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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 taxpayers would spend $85 million to “build a new baseball stadium for his Beavers and renovate PGE Park-just remodeled in 2001 at a cost to taxpayers of $38.5 million-for soccer”, and that in exchange, he would spend $40 million for the franchise fee to bring a new Major League Soccer team to Portland. 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.