The Portland Diamond Project has made significant progress in its quest to secure a Major League Baseball (MLB) team for the Rose City. On Thursday, the Oregon Senate approved a funding bill to facilitate the construction of a new ballpark on Portland’s South Waterfront, passing with a decisive 24 to 5 vote.
Senate Bill 110 paves the way for the state to issue up to $800 million in bonds to support the ballpark’s development, incorporating a unique repayment strategy. While there has been no official announcement regarding MLB expansion to Portland, the initiative has garnered support from the previous City Council, current Mayor Keith Wilson, state Treasurer Elizabeth Steiner, Senator Kate Lieber, and various organizations including the Portland Metro Chamber, Travel Portland, and Sport Oregon. The Oregon State Senate’s approval adds to this growing list of endorsements.
The bill will now proceed to the Oregon House. Should it pass there, it will be sent to the governor for final approval. The Portland Diamond Project has been striving to establish an MLB team in the city since 2017, facing numerous challenges and various proposed sites along the way. However, a recent proposal has revitalized the project and reignited public enthusiasm for bringing MLB to Portland.
The envisioned stadium will feature 32,000 seats and a retractable roof, situated on the western bank of the Willamette River at the Zidell Yards property. This 33-acre former shipyard site lies beneath the Ross Island Bridge, conveniently located between Tilikum Crossing and the OHSU tram, emphasizing the importance of public transit in the stadium’s design.
This marks the furthest progress the Portland Diamond Project has achieved in its nearly decade-long campaign. The state’s interest in supporting a baseball stadium dates back to 2003, with legislation allowing for up to $150 million in bonds for such projects.
The new bill significantly increases the bonding capacity to $800 million to better address the financial requirements of a modern stadium. The repayment of these bonds will occur over 30 years through a “jock tax,” which will apply to the players and staff of the MLB team and visiting teams, ensuring that ordinary Oregon taxpayers do not bear the financial burden. Once the bonds are repaid, the funds generated by the tax will flow directly into Oregon’s General Fund. Furthermore, if an MLB team were to depart Portland for any reason, the state treasurer’s office has assured that taxpayers would not be left with the bill.
