Rip City Not Rip Off
@ripcitynotripoff
A data-driven resource promoting a fair deal to keep the Blazers in Portland. ripcitynotripoff.com
Not an assumption, comes directly from the city page: www.portland.gov/council/moda...
Insane. The Blazers, to OPB: we can’t show the city final renderings until the city commits to a financing plan. $600M first. THEN we’ll tell you what it buys. Even Mayor Wilson now admits: “We don’t yet have all the information we’ll need to negotiate successfully.” Here’s what comes next 👇
What happens if Dundon refuses to pay anything and we lose the Blazers?! Well, actually, we end up saving roughly ~1B. In fact, we might even make money.
Here it is, this doesn’t include the county interest which would make this $50m higher
According to the current lease, whatever today’s NBA standard requires, Tom Dundon is contractually bound to pay for it himself. The “first-class” upgrades the public is being asked to fund for ~$600M are, by the contract’s own words, his obligation.
Huge thanks to @jcbradbury.com for providing the data allowing us to compare NBA/NHL deals going back to 1990. www.ripcitynotripoff.com/deals
"Portland is a small market, no owner would want to be here"
"The NBA doesn't care about keeping the Blazers in Portland, they would let them leave!"
In case you haven't heard, public handouts to billionaires are wildly unpopular.
Seattle Climate Pledge Arena is city-owned. The private owner put in $1.12B. The public paid $0. Why? Seattle wisely decided to actually put out a competitive bid to see who would give them the best deal. And they got it. Why shouldn't Portland do the same. We lose no events/tenants by just asking.
The Blazers created their own petition website since ours was successful, but it seems to only work if you don't edit the message they crafted for you. newmodacenter.com
How long will it take to pay back using just the Blazers-generated tax money? For the State Bonds only ($365M): ~32 years. For the $600M renovation: ~53 years. For the full commitment (State+City+County): ~94 years.
Fifteen Blazers player paychecks are nearly half the “$631 million economic impact." $145M/yr — and the study doubles it with its own 2.02× multiplier to $292M on the theory those salaries recirculate through Portland like ordinary wages. Half of that impact never circulates in the economy.
Here are the Top 15 upgrades/refreshes that the Blazers want the public to fund fully. Which of these do you think the public should fund vs the Rip City ownership group?