TAMPA, Fla. — The Tampa Bay Rays say they are willing to cover half the cost of a proposed $2.3-billion stadium, with public funding expected to pick up the remaining portion.
While the offer signals a major commitment from the team, city and county leaders say more analysis is needed before moving forward.
What You Need To Know
A proposed Rays Stadium in Tampa would carry a price tag of $2.3 billion, of which the Rays say they’d pay half of the cost
The Tampa Sports Authority is expected to vote today to request an economic impact study from the City of Tampa and Hillsborough County
The Rays are proposing a stadium complex similar to the Batter at Truist Park in Atlanta, which features a ball park surrounded by mixed-use development
The Rays say they want to be playing in a new stadium by opening day of 2029
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Both the City of Tampa and Hillsborough County would need to commission an economic impact study to determine whether the investment makes financial sense for taxpayers.
In addition to covering half of the stadium cost, the team would also cover any cost overuns, future repairs, maintenance and renovations, according to the meeting agenda posting to the county’s website.
The document states the remaining funds could come from the Tourist Development Tax, Community Investment Tax and property taxes collected from the area around the stadium.
The Rays’ proposal envisions a development similar to The Battery Atlanta at Truist Park, a baseball stadium surrounded by a mix of bars, restaurants, retail spaces, and residential units. The goal is to create an all-day, year-round destination rather than a venue used only on game days.
The Tampa Sports Authority did not comment on its vote scheduled for today, but it is expected to support requesting an economic impact study from local leaders.
The Tampa Bay Business Journal, which has closely followed discussions around a potential Rays move to Tampa, said public support could be difficult to secure.
Business Journal Editor Alexis Muellner notes that financing a new ballpark will require a fresh approach.
“It needs some fresh thinking about the financing, and without a lot of public support,” Muellner said. “These are multi-billion dollar enterprises and I think fans and the business community, while they want to support it and they don’t want to lose one of these precious 30 franchises, you know the money is going to have to come from some public-private partnership.”
Time is a major factor.
The Rays want to be playing in a new stadium by Opening Day 2029, leaving roughly six months for the Sports Authority, the city, the county, and the team to reach an agreement that taxpayers can support.
Governor Ron DeSantis is expected to address the stadium discussion today during a visit to Hillsborough College.
Because HC is state-funded, relocating the campus would require identifying a new nearby site. The Westshore District, located close to the current campus, could be an option, but that move would come with significant costs.
Additionally, HCC would need to fully relocate before the Rays could break ground, adding another layer of complexity to an already tight timeline.