Some progress on Tampa Bay Rays’ stadium

Article posted by Coliseum, January 6^th, 2025

Image: Tampa Bay Rays

A new stadium for Major League Baseball’s Tampa Bay Rays in St. Petersburg, Florida moved a step closer after the Pinellas County Commission voted to approve bonds that will finance its share of the new ballpark.

MLB.com said that St. Petersburg City Council voted 4-3 in December to approve bonds to fund the city’s $287.5 million share of the Rays’ planned $1.3 billion stadium and surrounding Historic Gas Plant District development.

The County Commission followed suit later in the month with a 5-2 vote in favor of the bonds funding the county’s $312.5 million investment in the project.

However, the Rays said the county’s previous delays in voting on the issue would force them to push back the planned opening of the ballpark by a year from 2028 and makes it unrealistic for them to solely afford the increased cost of construction.

Rays’ presidents Matt Silverman and Brian Auld said in a statement, “It was unsurprising to see the Commissioners acknowledge how important the Tampa Bay Rays and our stadium development agreement are to this community and its citizens.

“As we have made clear, the County’s delay has caused the ballpark’s completion to slide into 2029. As a result, the cost of the project has increased significantly, and we cannot absorb this increase alone. When the County and City wish to engage, we remain ready to solve this funding gap together.”

In the initial ballpark agreement, the Rays pledged to commit $700 million and cover any cost overruns.

County Commission Chair Kathleen Peters said the commission would not renegotiate the deal if the Rays requested more money from the county, and St. Petersburg Mayor Ken Welch previously made a similar promise to the City Council.

The Tampa Bay Rays are an American professional baseball team based in the Tampa Bay area in Florida. The Rays compete in Major League Baseball (MLB) as a member club of the American League East Division. Their Tropicana Field home was recently badly damaged by a hurricane.

After Hurricane Milton caused significant damage to Tropicana Field, where they had been set to play through the end of the 2027 season, the Rays will play their 2025 home games at Steinbrenner Field in Tampa. Their future beyond next year is unclear.

The new stadium project, which is being designed by Populous, includes 5,000 residential units, 600 affordable/workforce housing units, 1.4 million square feet of office/medical space, and 750 hotel rooms.

The Rays have selected Minneapolis-based company Mortenson Construction to carry out the stadium work as part of plans to redevelop the Historic Gas Plant District.

MLB.com further stated that the county’s share of the funding for the new stadium project comes from tourism development tax revenue, which can only be spent on tourism-related/economic development expenses like a new ballpark or beach renourishment.

In the discussion leading up to their vote, commissioners noted that the Rays must meet specific requirements by March 31 for the bonds to be issued.

County Commission Vice-Chair Brian Scott said, “I do think that we will see a new stadium. There is no better opportunity out there for the Rays than what we have done today.”

Peters said after talks with MLB Commissioner Rob Manfred, “I’m still optimistic we’re going to see this go through, and Commissioner Manfred is very eager to see this happen.

“He is very supportive of staying in the Tampa Bay area and supporting the Tampa Bay fans. He has said it numerous times, and I feel just as optimistic that this will go through.”

Continue to follow Coliseum for latest updates on venues business news. Coliseum is dedicated towards building the best global community of sports and entertainment venue executives and professionals creating better and more profitable venues.

Become a member of the only Global Sports Venue Alliance and connect with stadiums, arenas and experts from around the world. Apply for membership at coliseum-online.com/alliance and make use of the 365Coliseum Business.

Watch 380 member-exclusive videos with valuable tips for your venue