Tampa Bay Rays set for new $2.3B stadium project after county and city approve financing plan
AP News • • sports
Key Points:
- The Tampa Bay Rays secured county approval for a $796 million financing plan to build a new $2.3 billion stadium and mixed-use entertainment district near Raymond James Stadium, with the stadium expected to open in 2029.
- The Tampa City Council had previously approved $80 million for the project, and the Rays committed at least $1.3 billion plus any cost overruns, supplemented by $30 million in federal disaster recovery funds.
- The stadium will be built on Hillsborough College's campus, adjacent to the New York Yankees’ spring training facility and across from the NFL’s Buccaneers stadium, with renovations planned for some college buildings.
- The Rays have played at Tropicana Field since 1998 but plan to move after their lease ends in 2028; a prior redevelopment deal near Tropicana Field fell through last year, raising uncertainty about the team's future.
- Rays CEO Ken Babby and new owner Patrick Zalupski emphasized that the approvals mark a significant milestone securing the long-term future of Major League Baseball in Tampa Bay and the region’s development.
