If it's just selling bonds that will be repaid at a fair markup, then no. Your mortgage banker isn't subsidizing your house; they're trying to make a good business deal.
However this would be repaid by taxes essentially funded by local entertainment spending (directly and indirectly). The spending would generally not be net additional--it's money fans would spend on something else if the team isn't around--so it's basically an added tax even if paid by the players and team officials. Major league economic assessments typically treat all team-related revenue as new money, which is blatantly false.
(I'm mostly speaking generally...I don't know the inner workings of the Oregon deal.)
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