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Just as the Rays are nearing a stadium deal that would ensure that the MLB franchise remains in the Tampa area, the club’s NFL neighbor could soon jump the line in terms of receiving local taxpayer support.
The Buccaneers are expected to pursue a large-scale renovation of Raymond James Stadium, the team’s current and publicly owned home, costing between $700 million and $1.3 billion. An initial framework under discussion points to public money covering about two-thirds of that cost.
That directly intersects with the Rays’ potential stadium deal, as those two projects could be drawing from the same Community Investment Tax that is a core part of the financial model being developed by the MLB club for its ballpark project. The Rays are seeking $976 million in public funds, with nearly half of that taxpayer outlay coming from CIT receipts.
“I think most of us have talked to the Buccaneers at this point, and we’re going to be writing a very large check in the very near future for Raymond James Stadium,” said Tampa Sports Authority board member Tony Muniz at a meeting of the body that operates the 28-year-old stadium. “And that’s our priority. We have to always remember that. I think we need to take care of Raymond James before we go out and try to convince the Rays to stay in Tampa Bay.”
The local stadium situation is on track to reach a critical juncture soon. The Rays received approvals last week from Hillsborough County and the Tampa City Council on a memorandum of understanding for a $2.3 billion ballpark deal. Despite the non-binding nature of that MOU, the Rays are eager to complete a final pact in the coming weeks that would still allow a new facility to be ready in time for the 2029 season. It’s likely, though, that the Rays will need to shore up additional political support to make that happen.
The Buccaneers’ current stadium lease, meanwhile, expires in January 2028, but the team is obligated to detail its intentions to the Tampa Sports Authority at least a year earlier.
Notably, the Tampa Sports Authority board includes representatives from both the Hillsborough County Commission and Tampa City Council, who would be voting on both the Rays and Buccaneers.
In addition to the financial interplay between the Rays and Buccaneers, the MLB club’s targeted stadium site on the Dale Mabry Campus of Hillsborough College is almost directly adjacent to Raymond James Stadium.
Broader Dynamics
The Rays’ stadium situation has been an ongoing concern for more than two decades, spanning three different ownership groups, and represents one of the last major hurdles for MLB before the league gets more serious about expanding to 32 teams.
The Buccaneers, meanwhile, are increasingly looking to keep up with an accelerating NFL stadium development boom that currently includes teams such as the Bills, Titans, Browns, Chiefs, Commanders, Broncos, and perhaps the Bears.
The geographically closest NFL teams to Tampa—the Dolphins, Jaguars, Falcons, Panthers, and Saints—all have had either new facilities built, major renovations completed, or are in the midst of large-scale overhauls of their stadiums.
Raymond James Stadium has hosted three Super Bowls, most recently in 2021. The venue, however, will likely have a difficult time getting back in a rotation for that coveted event, already set through 2030, without further upgrades.
