Tampa approves $2.3B deal for a new Rays ballpark

Tampa Bay officials endorsed a $2.3 billion agreement for constructing a new stadium for the Tampa Bay Rays baseball team, with funding sourced from both public and private sectors. The decision came after a 4-3 vote by the Tampa City Council, following a tentative agreement reached three months prior. The stadium would incorporate $967 million in tax funds.

Rays CEO Ken Babby expressed gratitude for the council's support, stating that the investment will ensure the future of Major League Baseball in Tampa Bay and create a lasting landmark for the region. The project requires approval from Hillsborough County Commissioners on Friday. The Rays have agreed to build the stadium and a mixed-use entertainment district on the site of the Hillsborough College campus, with renovations to some of the school's buildings.

The property is situated near the New York Yankees' spring training facility and across a highway from Raymond James Stadium, home to the Tampa Bay Buccaneers. The Rays aim to complete the new stadium within three years. Since their inception in 1998, the Rays have played at Tropicana Field in St. Petersburg, except for moving home games to George M. Steinbrenner Field in 2025 due to storm damage at the Tropicana Field.

The Rays' lease remains valid until at least the 2028 season. A previous $1.3 billion redevelopment deal for a new ballpark adjacent to Tropicana Field failed last year, casting doubt on the team's future, which was acquired last September by Patrick Zalupski's ownership group.