The Tampa Bay Rays have a deal in place for a new $2.3 billion stadium and surrounding development to be built in Tampa, ideally in time for the 2029 season. The agreement means that the Rays, barring the unforeseen, will remain in the Tampa-St. Petersburg area for at least decades to come.
On Friday, Hillsborough County commissioners voted by a 5-2 count to approve a package of county funding. This comes the day after the Tampa City Council voted 4-3 to approve its share of funding for the project. In all, the city of Tampa is contributing roughly $80 million in public funding, and the county of Hillsborough will contribute almost $800 million. The remaining $1.4 billion or so and any cost overruns will be privately financed. The new complex will be located near Hillsborough College’s Dale Mabry campus.
Major League Baseball commissioner Rob Manfred released a statement through the league following the county commissioners’ vote on Friday.
“This is a great day for Tampa Bay Rays fans, the entire Tampa Bay region and Major League Baseball. I want to thank the Hillsborough County Board of County Commissioners, the Tampa City Council and everyone who worked tirelessly to develop a plan that reflects the interests and priorities of the community while securing a state-of-the-art ballpark and a strong, long-term future for the Rays in Tampa Bay.
“I also congratulate Patrick Zalupski and his partners for their tremendous efforts to make this new ballpark a reality, and I look forward to working with them as they build on the organization’s success and deepen its connection with fans throughout the region.
“This agreement represents an important investment in the future of Tampa Bay and provides a tremendous foundation for the Rays and Major League Baseball to continue thriving in this community for generations to come.”
Rays CEO Ken Babby also released a statement through the club:
“The Tampa Bay Rays enthusiastically thank and applaud the Hillsborough County Board of County Commissioners for making history. By virtue of its approval of a county investment in partnership with the Rays and the City of Tampa, today our entire region can celebrate the coming of a privately financed and mixed-use neighborhood, a reinvented Hillsborough College campus, and a new ballpark that secures the long-term future of Major League Baseball here in Tampa Bay.
“With deep gratitude, we commend Hillsborough County Chair Ken Hagan and his fellow elected officials for their vision and support. We are also grateful to Dr. Ken Atwater, President of Hillsborough College, who has been an inspiration throughout this journey. We all have more work ahead, but there is no question our partnership will ensure a cohesive and successful process.
“Above all, we now look forward to celebrating before breaking ground with Hillsborough County an the City of Tampa on a future that has long been doubted, but will indeed happen. By making the Forever Home a reality, the Rays are now home forever in Tampa Bay.”
The new ballpark will replace Tropicana Field, which has been the Rays’ home stadium throughout the franchise’s entire existence, dating back to 1998. That’s except for the 2025 season, when the Rays played their home games at the ballpark of a Yankees minor league affiliate in Tampa because of damage to Tropicana Field caused by Hurricane Milton. The Rays’ lease on Tropicana Field runs through the end of the 2028 season.
Per the agreement, the county will own the stadium, and the Rays will pay $4 million per year in rent. The lease is expected to run 35 years. The Rays, under prior majority owner Stuart Sternberg, worked on several frameworks for a new ballpark in the metro area, but none advanced this far. The county vote on Friday thus brings to a close more than a decade of wrangling and negotiating over a new Rays ballpark.
While the majority of the project will be privately financed, a significant amount of public funding is also involved. Although the practice of funding sports facilities with tax dollars is commonplace, academic research strongly holds that using public money for such projects provides, at best, negligible economic benefits for cities, counties, and states making such investments.
