Subprime Money Buys Civic Assets

The report shows a would‑be NBA team owner built wealth via subprime auto lending that Oregon and other states alleged was predatory, then used that fortune to bid $4B for the Trail Blazers while local officials pledged support for an arena overhaul. It spotlights how profits from consumer‑harmful finance can flow into ownership of civic institutions that often seek public subsidies. The story implies a due‑diligence gap when governments promise deals without weighing owners’ regulatory histories. — It reframes sports‑subsidy and public‑private partnership debates around vetting owners’ conduct, not just project economics, to protect public legitimacy and welfare.