Terry Porter Talks Blazers With Portland's Mayor

Former Trailblazers star Terry Porter

PORTLAND – AP - Former Trail Blazers star Terry Porter met with Mayor Tom Potter Wednesday to discuss efforts to pull together a group of investors to rescue the team and keep it in Portland.

Current Blazers owner Paul Allen, the billionaire co-founder of Microsoft, claims he can no longer sustain the team's financial losses. He has said he needs public assistance or he will have to sell the team.

City and state officials, meanwhile, have said there's no financial aid to give.

Enter Porter, former coach of the Milwaukee Bucks who played nine years for the Trail Blazers and is the team's career assists leader.

Porter met with the mayor and his staff for about 20 minutes Wednesday afternoon, before he headed off to the Blazers' season finale against the Phoenix Suns.

"They aren't asking for money; this was not about money," Potter said. "This was about opening lines of communication."

Porter said he met with some 30 potential investors during his trip to Portland, but would not go into specifics.

"We had some very good meetings," Porter said. "We'll circle back in the next three or four days and see where we stand."

The arena was originally financed by Allen without public money. But the team's sister company, Oregon Arena Corp., declared bankruptcy in 2004 and Allen chose to give up ownership rather than continue to pay interest on construction debt.

As a result, team revenue - from things like luxury suites - declined sharply, along with ticket sales. Allen has estimated the team will lose $100 million over the next three seasons.

Portland Arena Management, the company formed to represent the arena lenders, now owns the Rose Garden.

Last month NBA commissioner David Stern pulled out of negotiations to reach a resolution, claiming that the arena's owners were not cooperating.

Since then, however, Allen and the arena owners have started talking, said Andy Brimmer, a spokesman for Allen's investment firm, Vulcan, Inc.

"One avenue we're exploring with them is jointly selling the team and the arena," Brimmer said on Tuesday.

Porter, who was let go by the Bucks after last season, helped the Blazers reach the NBA finals in 1990 and 1992. Portland won its only championship in 1976-1977.

Porter's group already has $100 million in debt financing lined up. Stern has estimated the team and arena are worth some $300 million.

Porter said he has already spoken with Allen.

"I think he's looking for the right deal," Porter said, "And I'd love that deal to be mine."

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