When the Portland Trail Blazers franchise was awarded for 1970, the Memorial Coliseum became the team's home court, capable of seating 12,666 when configured for basketball. Three NBA Finals have been (partially) played in the Coliseum; in 1977 (when the Trail Blazers won) and in 1990 and 1992. The Blazers were 10–0 in the Coliseum during the 1977 playoffs, including the clincher in Game 6 of the Finals. The Detroit Pistons were the only visiting team to win the championship at the Coliseum, claiming their second consecutive championship in Game 5 of the 1990 Finals.

In 1974, Gerald Ford became the first president of the United States to attend an NBA game. On November 1 at Memorial Coliseum, he arrived in the third quarter and watched the Trail Blazers defeat the Buffalo Braves, 113–106.

Construction began on the nearby Rose Garden Arena (now Moda Center) soon after the 1992 NBA Finals, and it became the team's home arena when it opened in 1995.

As part of the team's 40th anniversary celebration, the Blazers played a pre-season game at Memorial Coliseum on October 14, 2009, against the Phoenix Suns. Team founder Harry Glickman, former players Jerome Kersey, Terry Porter, and Bob Gross, as well as broadcaster Bill Schonely attended the game. The Suns defeated the Blazers, 110–104, with 11,740 tickets sold.

In 2019, the Portland Trail Blazers celebrated their 50th season anniversary of becoming an NBA franchise. The organization played their first preseason game of the 2019–2020 season at the Memorial Coliseum on October 8, against the Denver Nuggets as a tribute to the stadium that the Trail Blazers called home for 25 years.

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