Does Paulson Want A City “Bailout”?

Portland, once again, made the NY Times or did the connection to Treasury Secretary Hank Paulson’s multi-millions grab the attention. At any rate “Merritt Paulson, the son …wants to bring an M.L.S. expansion team to Portland, Ore.”

He will provide $40 million and he wants “an $85 million package of city and state financing to renovate PGE Park, where the Beavers and Timbers now play, into a 23,000-seat soccer-only stadium, and to build a Beavers ballpark at a separate location.” Supposedly, his father will be a part owner in this venture.

The key queastion seems to be “Will he receive stadium financing, as other M.L.S. teams have, and will he get it in time for the expansion vote in the first quarter of 2009?”

It’s now up to Mayor-elect Sam Adams.

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