Tampa approves $2.3B deal for a new Rays ballpark

Tampa Bay officials have approved a $2.3 billion deal to build a new ballpark for the Tampa Bay Rays, a decision made after a tentative agreement was reached three months prior. The stadium, which will require $967 million in tax money, promises to bring lasting benefits to the region. Rays CEO Ken Babby expressed gratitude for the city council's support, stating that the project will ensure the future of Major League Baseball in Tampa Bay and create a landmark destination neighborhood.

The project, which includes a stadium and a mixed-use entertainment district, has been in development since an agreement was reached with Hillsborough College to renovate some of the school's buildings. The property is located near the New York Yankees' spring training facility and across from Raymond James Stadium, home of the Tampa Bay Buccaneers.

The Rays have expressed their intention to complete the new stadium within three years. Prior to playing at Tropicana Field in St. Petersburg, the Rays played at their current location before relocating their home games to George M. Steinbrenner Field in 2025 following hurricane damage. The current lease for the team runs through at least the 2028 season.

The baseball team moved back to Tropicana Field last month for the start of the season. A proposed $1.3 billion redevelopment deal for a new ballpark adjacent to Tropicana Field fell through last year, raising questions about the future of the team, which was purchased last September by Patrick Zalupski's ownership group.