Portland Diamond Project pitches 32,000-seat retractable-roof MLB stadium at Zidell Yards; project leaders seek SB 5 modernization and state support

Craig Cheek, founder of the Portland Diamond Project, joined Mayor Keith Wilson and project advisers for an informational briefing describing plans to build a Major League Baseball ballpark and surrounding district at Zidell Yards in Portland.

Project overview and timeline Cheek said the proposal centers on Zidell Yards (described in the briefing as a 31‑acre site) and envisions a world‑class, approximately 32,000‑seat stadium with a retractable roof and riverfront orientation. The team shared renderings in the briefing but said detailed public renderings and a press announcement were forthcoming. Cheek said the group hopes to break ground in 2027 if site preparation and approvals proceed on schedule and believes 2025–26 are critical years for securing partnership and financing.

Costs and financing Cheek told the committee that current cost estimates for a “world class” ballpark range from $1.8 to $2.0 billion. He said the team seeks modernization of SB 5 (a 2003 statute the project described as providing bonding capacity tied to player payroll) to reflect current player salary and revenue structures; the project asked the Legislature to consider authorizing up to roughly $850 million under a modernized SB 5 to create bonding capacity. Cheek described other…