Oregon Governor Greenlights $800 Million Deal to Bring Major League Baseball to Portland

A Major League Baseball stadium in Southwest Portland was batted closer to reality on Thursday after Oregon Governor Tina Kotek signed Senate Bill 110 to authorize up to $800 million to help finance the stadium.

Governor Signs Portland Major League Baseball Stadium Funding Bill

An ongoing campaign to bring Major League Baseball (MLB) to Portland got a step up after the bill backing the $800 Million Stadium plan, passed in the Oregon House earlier in June, was signed by Governor Kotek. Income taxes from a team’s players and some employees will be diverted to pay off the bonds over a 30-year period.

An owner willing to pay billions of dollars in expansion fees to secure the venue for a new team is now being sought. The backers would need to invest over $1 billion to cover additional stadium costs.

While the planned site — the 33-acre former Zidell Yards shipyard south of downtown — offers excellent riverfront views, it is situated in a liquefaction zone on soil that may require treatment for industrial pollution.

In addition, although several transit lines serve the property, it’s not easily accessible by car. The site is well served by public transit but not by major roadways. The Portland Diamond Project, a private group spearheading the initiative, has begun laying the groundwork for upgrades to the city’s South Waterfront, which would utilize public funds.

MLB is seeking to award an expansion franchise by 2029, and SB 110 has overwhelming, bipartisan support from legislators, Portland’s mayor, and its major business organizations. It revises the 2003 law, which provides for a “jock tax,” allocating up to $150 million in taxes generated by player salaries for a baseball stadium.

In the meantime, stadium construction costs have soared, but so have player salaries; therefore, income taxes could generate more funds for stadium construction.