McGowan: How partnership with Moda came to be
The Portland Trail Blazers announced on Tuesday morning that they have reached a partnership deal with Moda Health for the naming rights to the Rose Garden.
According to a city official who spoke on the condition of anonymity due to the private nature of these negotiations, says the deal is for 10 years and worth up to $4 million annually.
Known as the Rose Garden Arena since it opened in 1995, the new name of the building will be “Moda Center,” which will feature a picture of a “Rose” in the logo.
Chris McGowan, Trail Blazers' CEO and President, made the naming rights situation his top priority when he assumed his position shortly before the 2012-13 NBA season.
In January, McGowan sought the assistance of Premiere Partnerships, an advisory firm, to locate potential companies that would be a great fit for the Trail Blazers and the arena.
Up until now, the Trail Blazers were one of a handful of NBA teams not to have a naming rights deal in place. To accomplish what McGowan has accomplished in such a short time frame is a remarkable feat that will separate him from his predecessors.
On July 30 Bo Nofziger tipped off a couple of Portland media members via Twitter that this deal between these two sides were complete.