Blazers reach arena naming rights deal with Moda Health

Blazers reach arena naming rights deal with Moda Health
August 13, 2013, 10:00 am
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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.