Portland Diamond Project signs letter of intent to buy site for MLB stadium

About a week after the WNBA announced its return to Portland, a local organization has moved forward with its efforts to bring Major League Baseball to the city as well.

On Tuesday, Sept. 24, the Portland Diamond Project revealed it signed a letter of intent to acquire the South Waterfront’s Zidell Yards — with hopes of it becoming the next MLB stadium.

The sale is pending a 120-day due diligence period. The Diamond Project then has 42 months to officially purchase the 33-acre former shipyard.

PDP Founder and President Craig Cheek said the potential acquisition of the property, currently owned by the Zidell family’s ZRZ Real Estate, is a “dream come true.”

KOIN 6 News is a news partner of the Portland Tribune. Their full story can be found at koin.com .