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Portland gets financial return on Providence Park

City revenues from the home of Portland Timbers exceeded $2 million in 2015.

The city gets base rent of about $1 million, plus 7 percent of ticket sales with a minimum guarantee and an extra bonus if sales exceed that minimum threshold. Figures released by the city in response to a public records request by WW show Paulson has not only made the required payments, but has exceeded his minimum every year—sending the city more money in 2015 than ever before.

City Commissioner Amanda Fritz, the lone no vote in 2010, applauds the results. "I'm very glad to see the prosperity of the Timbers and the Thorns and the enjoyment of Portlanders who attend games," Fritz says.

(READ MORE: Willamette Week)

RELATED NEWS: PSU payroll tax plan pushes ahead; Fred Meyer first to sign up for Clean Fuels Program; Mayor Hales’ budget plan includes a contentious business tax hike.

 

 

Last modified onWednesday, 04 May 2016 10:49

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