The Trail Blazers are “very far apart” in their negotiations with the city of Portland to provide public funding for renovations to the Moda Center, a team source tells Jason Quick of The Athletic. City officials sent the Blazers a term sheet on Friday outlining a 20-year lease agreement that includes $600MM in public funds to upgrade the arena. There are fears that failure to reach an agreement could result in the Trail Blazers leaving Portland when their lease at the arena expires in 2030. “We don’t even want to respond to the term sheet until they remove that gun to our head,’’ a team source told The Athletic. However, that arrangement is contingent on the city of Portland agreeing to provide $120MM, plus another $88MM from Multnomah County.