Moda Center

Moda Center, formerly known as the Rose Garden, is the primary indoor sports arena in Portland, Oregon, United States. It is used for basketball, rodeos, circuses, conventions, ice shows, concerts, and dramatic productions. The arena has a capacity of 20,500 spectators. As of 2007, it is equipped with state-of-the-art acoustics and other amenities. The arena is owned by the City of Portland. The primary tenants are the Portland Trail Blazers of the NBA, and the WNBA's Portland Fire. The other major tenant of the building was the major junior hockey franchise Portland Winterhawks of the Western Hockey League, which used to split its schedule with the Memorial Coliseum next door. In addition to the Blazers and Winterhawks, several other professional sports franchises, and the Portland State University men's basketball team, either currently play home games in Moda Center, or have done so in the past. In addition, Moda Center is a popular venue for concerts and other artistic productions. Construction began in 1993, and the arena opened on October 12, 1995. The arena cost US$262 million to build; construction was financed with funds obtained by a variety of sources, including the City of Portland, Paul Allen's personal fortune, and $155 million in bonds issued by a consortium of mutual funds and insurance companies. These bonds would become the subject of an acrimonious 2004 bankruptcy in which the Oregon Arena Corporation, the holding company which owned the arena at the time, would forfeit title to the arena in lieu of repaying the bonds per the payment terms. Allen would later repurchase the arena from the creditors in 2007.