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Teave: Portland Timbers
The Portland Timbers are an American professional soccer club based in Portland, Oregon, that competes in Major League Soccer. The Timbers are the 18th club of Major League Soccer, and replace the USL First Division's team of the same name, while retaining the same ownership. The MLS club is the fourth Portland team to share the legacy of the Timbers name, which originated in the old North American Soccer League in 1975.
The announcement of the Timbers' entry into MLS was the culmination of a nearly two-year-long process for Merritt Paulson, dating back at least to May 2007, when Paulson led a group that bought the Portland Beavers and the USL Timbers. The group included former Treasury Secretary Henry Paulson (Meritt Paulson's father) who holds a 20% stake. The biggest issue for the city of Portland was that due to league concerns about seating configuration, field surface, and scheduling, obtaining an MLS club would require a new stadium.
In October 2007, Paulson was told PGE Park could be upgraded for about $20 million, and a new baseball stadium (with 8,000 to 9,000 seats) would cost about $30 million. By November 2008, Paulson told The New York Times he expected Portland…
