Rays Abandon $1.3B Stadium Plan, Leaving Their Future in Doubt

The Rays’ days in the Tampa area could now be numbered as the MLB club said Thursday it is not moving forward with a plan to build a $1.3 billion ballpark in St. Petersburg, Fla. 

The franchise had a March 31 deadline to meet certain obligations to release $600 million in public funds toward the planned stadium. The Rays, however, would be responsible for cost overruns beyond its $700 million contribution, and say that delays in the legislative approval of those public bonds introduced additional costs they cannot bear alone. 

The city and Pinellas County refused to discuss supplemental funding, particularly in the wake of devastating hurricane damage to the area last year, and insisted they had met their obligations in a ballpark deal originally struck last summer.

As a result, the Rays said they are not proceeding with the ballpark and mixed-use development plan.

“After careful deliberation, we have concluded we cannot move forward with the new ballpark and development project at this moment,” said Rays owner Stu Sternberg in a statement. “A series of events beginning in October that no one could have anticipated led to this difficult decision. Our commitment to the vitality and success of the Rays organization is unwavering. We continue to focus on finding a ballpark solution that serves the best interest of our region, Major League Baseball, and our organization.”

The decision, although increasingly likely in recent days, will almost certainly raise already growing pressure on Sternberg to sell the franchise. Frustration with the team owner has been rising in recent weeks, particularly after MLB commissioner Rob Manfred personally and successfully lobbied to get the stadium bonds approved. Multiple groups have already begun to form that have expressed interest in buying the Rays. 

“When Stu sells, perhaps he can pay back the taxpayers of Pinellas/St. Pete for all the money that was spent on this deal,” said Pinellas County commissioner Chris Latvala in a social media post. Latvala voted last year for the stadium bonds, but has since been a frequent and outspoken critic of Sternberg. 

The Rays will play this season at George M. Steinbrenner Field in Tampa, the spring training home of the Yankees, and are aiming to return to hurricane-damaged Tropicana Field in 2026. The club’s long-term future, however, is as murky as perhaps any point in its history.

“While the decision of Tampa Bay Rays ownership to terminate the agreements for a new stadium and new development is a major disappointment, it is not unexpected. Nor is it the end of the Historic Gas Plant District story,” said St. Petersburg Mayor Ken Welch. “The city will continue to pursue all avenues that will help us deliver on our ultimate goal: utilizing the HGPD property to benefit the community and fulfilling the 40-year-old promises of economic development and opportunity made to the African-American community.”