Vulcan Inc. today announced the completion of the acquisition of the Rose Garden Arena pursuant to a purchase agreement entered into with Portland Arena Management LLC (PAM), under which an affiliate of Vulcan will acquire ownership of PAM, which owns, among other things, the Rose Garden Arena. Financial terms of the agreement were not disclosed. Vulcan Inc. is owned by Paul G. Allen, who also owns Trail Blazers Inc.
"This is a major milestone and a positive step for the franchise," said Paul Allen. "My efforts are focused on continuing to support the Trail Blazers and the long-term financial health of the franchise. By reuniting ownership of the Rose Garden and the Trail Blazers, we have moved another step forward in achieving those goals. We want to thank our dedicated fans, committed employees and loyal corporate sponsors for their continued support."
Vulcan Inc. Completes Acquisition of Rose Garden Arena
04-02-2007, 07:20 PM
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