There’s still no finalized deal for a new Rays stadium, with significant issues unresolved and commissioners insisting the team must make concessions.
TAMPA, Fla. — The future of a proposed Tampa Bay Rays stadium remains uncertain after a Hillsborough County workshop, where leaders made clear there is still no finalized agreement and significant issues remain.
During the meeting, county leaders outlined the latest proposal, which includes a public funding request topping $1 billion. The breakdown includes $702 million from the county and $224 million from the city of Tampa, for a combined total of $926 million. That leaves a $75 million gap to cover to get to the Rays’ ask. The Rays’ request was previously higher but has been reduced to about $1.001 billion after some funding sources were reclassified from public to private.
Despite months of negotiations, county leaders emphasized they are not ready to move forward with a vote.
“I want to be very clear about where we are at the process,” County Administrator Bonnie Wise said during the workshop. “While we have been engaged in discussions with the Rays for several months, we do not have an agreement that is ready to bring before this board. We recently received draft MOU for consideration from the team. This MOU has not been agreed upon by county staff and significant issues remain unresolved.”
Commissioners largely avoided debating specific terms during the workshop but repeatedly stressed the importance of protecting taxpayer dollars and ensuring promises tied to the Community Investment Tax (CIT) are upheld.
“All of the things we advertised to the public—the transportation improvements, the fire stations, the public safety designations, all of that is off the top and safe before this expenditure is being considered, correct?” Commissioner Harry Cohen asked. County Attorney Julia Mandell responded, “That is correct.”
Still, questions remain about how the project would be financed. Commissioner Josh Wostal, a vocal opponent of using CIT money, raised concerns about the structure of the funding, noting that issuing bonds backed by CIT revenue could put the full amount at risk.
“If we issue bonds against the CIT, the whole thing is eligible for the debt coverage, right?” Wostal asked. “Yes,” Mandell responded.
County leaders also acknowledged the urgency to reach a deal, as the Rays have signaled a need for a decision soon. At the same time, commissioners indicated the current proposal would need to change significantly before gaining approval.
“The final product of the MOU would likely look dramatically different than what’s been disseminated, is that accurate?” Commissioner Ken Hagan asked during the meeting. The response from Wise: “That’s accurate.”
Leaders are still targeting early May for potential votes. However, that timeline depends on whether both sides can reach an agreement in the coming weeks. County leaders said that would require the Rays to make concessions on several key issues.
“When I say that I do recognize that will require the team to make concessions on a number of issues,” Hagan said.
As negotiations continue, Hagan pointed out there are additional funding sources staff has identified that can be considered.
Tampa City Council is scheduled to hold a public workshop May 5, which will include an opportunity for public comment. County commissioners hope to vote the following day, with the city potentially taking action shortly after.