Tampa Sports Authority officials indicated that the Buccaneers “are seeking” a $1B renovation to Raymond James Stadium, according to Colleen Wright of the TAMPA BAY TIMES. With a January deadline approaching to negotiate a lease agreement, Bucs brass has “held private talks about a five-year extension.” Sports Authority officials indicated that “half that renovation amount would go toward sun coverage over the team’s home stadium.” The Bucs have “floated paying one-third of the cost with the public covering the other two-thirds.” Sports Authority President & CEO Eric Hart said that he expects the Buccaneers to “request somewhere between” $700M to $1.3B in renovations to Raymond James Stadium. Hart said that he “based that figure on other renovation projects done by” NFL teams. He added that the Bucs “have requested another meeting, with a definitive timeframe pending.” Wright notes Tampa Sports Authority “already has budgeted” $58M for projects at Raymond James Stadium. Hart said that while “some of the renovations are for maintenance,” the authority and team “share a common goal to do upgrades that would generate revenue.” Hart added that those projects “will happen without closing the stadium.” Wright notes the plan is to “take sections of the building offline one at a time” (TAMPA BAY TIMES, 5/26).
FUNDING CLASH: In Tampa, Emma Behrmann reports Tampa Sports Authority board members “are concerned” that a Rays ballpark deal “could hinder local governments’ capacity to fund a Raymond James Stadium renovation.” The Rays’ non-binding memorandum of understanding, which was approved by the Hillsborough Board of County Commissioners and Tampa City Council last week, outlines $976M in funding from the county and city, which includes $440M from the half-cent sales tax called the Community Investment Tax and $303M from the Tourist Development Tax. CIT and TDT funds are “likely the funding sources for a Bucs renovation, too” (TAMPA BAY BUSINESS JOURNAL, 5/26).