Rays Set For New $2.3B Stadium Project After County, City Approve Financing Plan

The Tampa Bay Rays got county approval Friday on a financing plan that will allow them to build a new stadium, a day after city officials approved their part for the $2.3 billion ballpark project that will replace the domed Tropicana Field.

The Hillsborough County Commission voted 5-2 on Friday to approve its $796 million share of the mixed-use entertainment district that includes a new 31,000-seat stadium that will be near Raymond James Stadium, home of the NFL’s Tampa Bay Buccaneers. The Rays’ new stadium is expected to open in 2029. The Tampa City Council city voted 4-3 on Thursday to approve $80 million.

Rays CEO Ken Babby said the team’s partnership with the county and city on the project secures the long-term future of Major League Baseball in Tampa Bay.

“We now look forward to celebrating before breaking ground with Hillsborough County and the City of Tampa on a future that has long been doubted, but will indeed happen,” Babby said. “By making the Forever Home a reality, the Rays are now home forever in Tampa Bay.”

The Rays have committed to contributing at least $1.3 billion, plus any cost overruns. Another $30 million will come from federal disaster recovery funds.

The Rays’ ownership reached an agreement earlier this year with Hillsborough College to build the stadium and entertainment district on the campus and to renovate some of the school’s buildings. The property is located next to the New York Yankees’ spring training facility and across a highway from the NFL stadium.

Since the team’s inception in 1998, the Rays have played at Tropicana Field in St. Petersburg, except for moving home games to the Yankees’ George M. Steinbrenner Field in 2025 following hurricane damage at the Trop. The Rays’ lease runs through at least the 2028 season. The team returned to the Trop for the start of this season.

A proposed $1.3 billion redevelopment deal for a new ballpark adjacent to the Trop fell through last year, raising new questions about the future of the team, which was bought last September by Patrick Zalupski’s ownership group.

“This has been a long and challenging process, and we know that transformational projects rarely come easily,” Zalupski said Friday. “Today’s vote represents an extraordinary milestone, not simply for the Rays or for a ballpark, but for the future of Tampa and the entire Tampa Bay region.”

Reporting by The Associated Press.