Portland Trail Blazers president of business operations Dewayne Hankins did not mince words this week. Speaking at Portland City Hall on Thursday, Hankins laid bare the franchise’s frustrations with the city that has been its home since 1970.
“The arena is only a small piece of that bigger picture. Portland’s current stagnant business climate, high income taxes, and divisive political environment make this a tough city to invest in,” Hankins said. “It makes it harder to sell tickets, secure corporate partnerships and recruit players.”
The comments, first reported by Oregon Public Broadcasting, come amid stalled negotiations over a roughly $600 million public-funded renovation of the aging Moda Center. New majority owner Tom Dundon’s group, which purchased the franchise earlier this year for approximately $4.25 billion, is seeking substantial taxpayer support for upgrades while locking in a long-term lease. The current bridge agreement runs through October 2030 (with a team option to extend to 2035). City and team officials remain significantly apart on terms, including how much (if any) private contribution the ownership group will make, maintenance standards, and other conditions.
Hankins’ pointed critique of Portland’s economic and political environment has only amplified existing relocation speculation. While the organization has repeatedly stated its preference is to stay and modernize the Moda Center, the public friction and the looming lease expiration have fans and media in other markets taking notice.
One name that keeps surfacing in those conversations is Richard Chaifetz. The St. Louis University alumnus, philanthropist, and founder of ComPsych is a minority owner and executive partner in the Dundon-led ownership group. Chaifetz has deep roots in the Gateway City: both the SLU Billikens’ arena and the university’s business school carry his name. He has long been involved in local sports and has previously expressed interest in bringing additional professional franchises to St. Louis.
That ownership stake, combined with recent comments from St. Louis civic leaders, has fueled local intrigue. Mayor Cara Spencer has indicated that attracting an NBA team is “absolutely something that’s on the radar.” U.S. Sen. Eric Schmitt and others have noted that Enterprise Center, home of the Blues, could theoretically accommodate a second tenant. St. Louis previously hosted the NBA’s Hawks, who won a title in 1958 before relocating to Atlanta in 1968.
Ross Chaifetz, involved in the family’s sports holdings including the St. Louis Shock pickleball team, has publicly described the city as an “exceptional sports market” for basketball and noted the group’s earlier efforts on a WNBA expansion bid. The family’s ongoing investment in Billikens basketball and other local ventures underscores a genuine connection to the market.
Any relocation remains a long shot in the near term. The NBA’s process requires formal application, a relocation committee review, and majority owner approval. Expansion to markets such as Las Vegas or Seattle appears to be the league’s priority. St. Louis ranks as a mid-tier media market (around 24th), comparable to Portland, and already supports the Cardinals, Blues, and CITY SC. Population trends and corporate sponsorship depth would face scrutiny.
Facilities present another hurdle. Chaifetz Arena seats just over 10,600—far short of modern NBA standards. Enterprise Center offers a more realistic temporary or permanent option, with capacity in the 18,000–20,000 range depending on configuration. Building a new dedicated arena would require significant public-private coordination and capital.
Yet the contrast Hankins described is hard to ignore from a St. Louis perspective. Missouri’s tax and business climate differs markedly from Oregon’s. A city with passionate, multi-generational sports fans, a track record of supporting professional teams, and an ownership group member already invested in the community presents a narrative that is difficult for some observers to dismiss entirely—especially if Portland negotiations continue to sour.
For now, the Blazers and Portland officials continue talks with a city council vote on a term sheet scheduled for mid-August and year-end deadlines tied to state funding. Dundon and his partners have maintained that staying in Portland is the goal. Hankins’ remarks, however, make clear that ownership views the arena renovation as only one piece of a larger viability puzzle.
St. Louis does not control the outcome in Portland. What it does have is an ownership link, civic interest at the highest levels, and a sports culture that has repeatedly proven it will show up. Whether that combination ever becomes more than intriguing speculation depends on decisions still being made 1,800 miles away. In the meantime, local fans will keep watching the Moda Center drama with more than casual interest.
