Tampa, FL – Hillsborough County commissioners have approved a new agreement that secures the Tampa Bay Lightning’s future in downtown Tampa while setting aside a large public investment to modernize the team’s arena.
The deal extends the Lightning’s lease at the county-owned arena through the 2043 season, adding several years to the previous agreement.
As part of the package, the county will commit up to about $358 million in tourist development tax revenue for a wide-ranging renovation project.
The Lightning ownership group is also expected to contribute tens of millions of dollars toward the improvements, according to county officials.
The planned upgrades are intended to keep the arena competitive with newer venues around the country and support its role as one of the region’s busiest event sites.
In addition to NHL games, the building hosts concerts and large entertainment events that draw visitors to Tampa and generate tourism-related spending.
Commissioners emphasized that the funding will come from tourist taxes rather than general county revenue.
The agreement also includes provisions designed to protect the county if the team were to attempt to leave the area before the lease expires.
While the vote was unanimous, some local leaders acknowledged that the size of the investment could affect future negotiations with other professional sports teams in the region.
The Tampa Bay Buccaneers play in another county-owned facility, and the Tampa Bay Rays are pursuing plans for a new stadium in Tampa.
For now, the approved deal locks in the Lightning’s long-term presence and sets the stage for a major overhaul of one of downtown Tampa’s most prominent venues.