In a significant development for Tampa’s sports landscape, the Tampa Bay Rays, alongside local government officials, have unveiled a preliminary $2.3 billion plan for a new stadium, combining both public and private funding.
The agreement, which is currently nonbinding, was reached between the Rays, Hillsborough County, and the city of Tampa. It details the financial framework for the proposed stadium, which would see $967 million sourced from taxpayer funds. This proposal is set to be reviewed by city and county officials in separate meetings scheduled for next week.
Rays CEO Ken Babby expressed the team’s eagerness for approval, stating, “The Rays respectfully but resolutely encourage Hillsborough County and the City of Tampa to approve the MOU and make possible a Forever Home for our community’s Tampa Bay Rays, breathe new life into the Dale Mabry Campus of Hillsborough College, and create a new privately financed neighborhood that will be an inviting and inclusive destination to work, live, learn, and play.”
The Rays’ ownership had previously secured an arrangement with Hillsborough College to develop the stadium on its campus, which would include a mixed-use entertainment district and renovations to some college facilities. This site is conveniently situated adjacent to the New York Yankees’ spring training facility and just across the highway from Raymond James Stadium, home to the Tampa Bay Buccaneers.
The team is optimistic about completing the new stadium within a three-year timeframe, marking a transformative period for the franchise and the surrounding community.
Since the team took the field in 1998, the Rays have played at Tropicana Field in St. Petersburg, except for moving home games to the Yankees’ 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 last month 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.
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