The recent approval by the Oregon Legislature of up to $800m for a Major League Baseball (MLB) ballpark for Portland has brought the dream of an MLB team for the city closer to reality.
The legislation making the funds available, Senate Bill 110 was passed in April by the Oregon Senate and was approved by the House in mid-June. The final step will be for Governor Tina Kotek to sign the bill, and all indications are that she will do so.
The bill is an update of a 2003 law, SB 5, that capped construction bonds at $150m, and it received bipartisan support both on the state and local level. The funding mechanism for the new law would involve a so-called “jock tax.” State income tax from home and away players in the city would be diverted away from the general fund, as well as from the franchise’s top executives. As it was with the 2003 law, the new law will only become effective if Portland is awarded an MLB franchise.
Sports franchises generate considerable business for local Print shops.
Should this law become effective, the stadium costs will likely be $2bn, plus expansion fees. Rob Manfred, the MLB commissioner, has made it clear that expanding the league from 30 to 32 teams is something he would like to initiate before his retirement at the beginning of 2029, with the selection of one West team and one East team being left to his successor.
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