Portland sports promoter Harry Glickman had sought in creating a basketball team in the city as soon as the Memorial Coliseum was opened in 1960, but the NBA board of governors only granted him the rights to a franchise on February 6, 1970. To raise the money for the $3.7 million admission tax, Glickman associated himself to real estate magnates Bob Schmertz of New Jersey, Larry Weinberg of Los Angeles and Herman Sarkowsky of Seattle. Two weeks later, on February 24, team management held a contest to select the team’s name and received more than 10,000 entries. The most popular choice was “Pioneers,” but that name was excluded from consideration as it was already used by sports teams at Portland’s Lewis and Clark College. The name “Trail Blazers” received 172 entries, and was ultimately selected by the judging panel, being revealed on March 13 in the halftime of a SuperSonics game at the Memorial Coliseum. Derived from the trail blazing activity by explorers making paths through forests, Glickman considered a name that could “reflect both the ruggedness of the Pacific Northwest and the start of a major league era in our state.” Despite initial mixed response, the Trail Blazers name, often shortened to just “Blazers”, became popular in Oregon.

NBA Finals – 1977
The 1977 NBA World Championship Series was the championship round of the 1976 – 1977 NBA season. The Portland Trail Blazers of the Western Conference played against the Philadelphia 76ers of the Eastern Conference, with the 76ers holding home-court advantage. Their four regular season meetings had been split evenly, 2-2, with neither side winning away from home. The series was played under a best-of-seven format, so the first team to win four games would win the series and become the league champions.

The Trail Blazers landed the No. 2 pick in the NBA draft. After the Houston Rockets selected Drexler’s college teammate Hakeem Olajuwon, known at that time as Akeem Olajuwon, at No. 1, the Trail Blazers selected Kentucky center Sam Bowie. Drafting third, the Chicago Bulls selected Michael Jordan. Many sportswriters and analysts have criticized the selection of the injury-plagued Bowie over Jordan as the worst draft pick in the history of American professional sports.

Allen purchased the Portland Trail Blazers NBA team in 1988 from California real estate developer Larry Weinberg for $70 million. He was instrumental in the development and funding of the Moda Center (previously known as the Rose Garden), the arena where the Blazers play. He purchased the arena on April 2, 2007, and stated that this was a major milestone and a positive step for the franchise. Since taking over the franchise, the Allen-owned Trail Blazers have reached the playoffs 19 times including the NBA Finals in 1990 and 1992 (As of July 2015) According to Forbes, the Blazers were valued at $940 million in 2015 and ranked No. 12 out of 30 NBA teams.

Starting on April 5, 1977 of that year, the team began a sellout streak of 814 straight games the second longest in American major professional sports history which did not end until 1995, after the team moved into a larger facility. In the fall of 1995, the team left the Memorial Coliseum for a new home, the 20,000-seat Rose Garden Arena.

Moda Center, formerly known as the Rose Garden, is the primary indoor sports arena in Portland, Oregon, United States. It is suitable for large indoor events of all sorts, including basketball, ice hockey, rodeos, circuses, conventions, ice shows, concerts, and dramatic productions. The arena has a capacity of 19,441 spectators when configured for basketball, fewer for other events. The arena is equipped with state-of-the-art acoustics and other amenities.

It is owned by Vulcan Inc., a holding company owned by Paul Allen, and is currently managed by Anschutz Entertainment Group and AEG Live. The primary tenant is the Portland Trail Blazers NBA franchise, also owned by Allen.