Portland seeks $800 million for new baseball stadium

The Portland Diamond Project is asking Oregon lawmakers for $800 million to help build a new baseball stadium. This request is more than five times the amount the state approved two decades ago for a similar venture. Senator Mark Meek has introduced an amendment to Senate Bill 110 to support this initiative. The goal is to attract a Major League Baseball (MLB) team to Oregon when the league expands. In 2003, the state approved $150 million in bonds for a baseball team, which would be paid back using income tax from players and team staff. The updated plan proposes that the new bonds be repaid within 30 years, after which the tax revenue would go into Oregon’s general fund. Earlier reports suggested the funding needed could range from $800 million to $900 million. The Diamond Project recently signed a deal to buy a 33-acre site called Zidell Yards in Portland, which is intended for the new stadium. Although MLB Commissioner Rob Manfred has not confirmed any plans for expansion, he has indicated that he hopes to start the process by 2029, prompting other cities, like Salt Lake City and Nashville, to also try to attract a team. Senate Bill 110 aims to make Portland's proposal competitive, especially against Utah, which has already approved $900 million for a similar project. Advocates for Portland baseball are set to present their case to the Senate Finance and Revenue Committee soon, with key local figures expected to testify in support of the initiative.