"Paul Allen paid for this Arena, now its our turn". Wrong. We paid $35M up front compared with his $45M of equity. He defaulted on his loan, and all of the ticket fees we got were recycled right back into the Arena. the City General Fund made $0. We subsidized HIM.
www.ripcitynotripoff.com/history
Built on public land through a 1990s partnership; the City has owned the building since 2024. Here's what Portland put in, what it got back, and how we reached the $600M ask.
