• Loading stock data...
Thursday, February 12, 2026

Rays Nearing $1.3B Stadium Deal, Clear Path to St. Pete Commitment

  • The St. Petersburg city council gives preliminary approval to the Rays’ $1.3 billion stadium project.
  • Opposition remains surrounding the public financing planned for the ballpark.
Tampa Bay Rays

The long and winding road toward a new Rays ballpark may at last be approaching a definitive conclusion, giving the MLB club a clear and full sense of its future for the first time in nearly two decades.

The St. Petersburg, Fla., city council on Thursday preliminarily approved by a 5–3 margin a development agreement and zoning changes relating to a new Rays stadium—marking the first time that the public body has made any sort of actual vote on the club’s proposed $1.3 billion stadium and mixed-use development.

Those preliminary decisions set the stage for larger votes on the stadium financing and overall project approval that are now scheduled for next month. The Rays’ plan for the new ballpark calls for the club paying $700 million plus cost overruns, with the public sector contributing the remaining $600 million. If approved, the stadium deal would finally end years of relocation rumors and talk centered on the team’s low attendance at Tropicana Field.

Nearly nine months after the Rays first unveiled their plans to become a centerpiece of St. Petersburg’s redevelopment of its Gas Plant District, confidence within MLB is rising that formal agreements and legislative approvals are near.

“I feel a good deal of confidence that they’re going to be able to get it done,” said league commissioner Rob Manfred to the Tampa Bay Times. He was in town meeting with Rays and Cubs players Thursday as part of an annual tour to see clubs in person but did not attend the council session. 

“We think the Tampa Bay region is really important to baseball. Getting a concrete agreement with respect to what the future of the stadium is going to be is just absolutely the top of the list for us,” Manfred said.

The Rays released updated renderings late last month on the planned stadium, and they hope to break ground early next year in advance of a 2028 facility opening. 

More Hurdles to Clear

Despite that hopeful sentiment, there are still hurdles to clear before those final approvals. A new lobbying group, No Home Run, recently formed in opposition to the public financing, a move advancing a broadly rising sentiment around the country against taxpayer support of new and renovated facilities for pro teams. The group last week released results of a new poll of local voters finding 72% of respondents in favor of renegotiating the public funding.

Some St. Petersburg council members—having already pushed for greater emphasis of the city by the Rays—are also still seeking greater disclosure around the deal.

“We are making decisions based on graphs and not final documents. I cannot emphasize that more,” said council member Lisset Hanewicz, one of the three “no” votes. “It is our duty to do our due diligence and we can only do that appropriately with final documents and not being rushed through the process.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Manfred: MLB Will ‘Consider Being in Business With Prediction Markets’

The league is actively studying the fast-growing business.
Sep 30, 2025; Los Angeles, California, USA; Los Angeles Dodgers designated hitter Shohei Ohtani (17) greets Los Angeles Dodgers first baseman Freddie Freeman (5) before the game against the Cincinnati Reds during game one of the Wildcard round for the 2025 MLB playoffs at Dodger Stadium.

Dodgers $401M Payroll Adds Tension Ahead of MLB Labor Talks

Labor talks are expected to begin in earnest this spring.
exclusive

Orioles Owner Met With Jeffrey Epstein

The meeting has not been previously reported.

MLB Media Set to Handle Half of the League’s Teams in 2026

The shifts highlight the ongoing disruption across sports media.

Featured Today

Epstein Emails Show His F1 Ties Ran Deep

The sex trafficker’s circles included many of the biggest names in F1.
February 6, 2026

Milan’s Olympic Village Is Built for Performance—and Partying

Making Milan’s Olympic Village was a five-year sprint.
February 5, 2026

Welcome to the Prediction-Market Super Bowl

Hundreds of millions of dollars are being traded across many platforms.
Feb 1, 2026; Santa Clara, CA, USA; New England Patriots players arrive prior to Super Bowl LX at San Jose Mineta International Airport.
February 3, 2026

Private Equity Has Reached the Super Bowl

The Patriots are one of four NFL teams with PE investment.
Jan 10, 2026; Chicago, IL, USA; Chicago Bears wide receiver DJ Moore (2) leaves the field following a game against the Green Bay Packers in an NFC Wild Card Round game at Soldier Field.

Iowa Bears? Lawmakers Propose Bill for NFL Team

A new proposal seeks to have the Bears move to Iowa.
February 4, 2026

NFL: Super Bowl Field Standards Won’t Repeat Previous Slip-Ups

An elevated set of field standards is already showing benefits.
Sponsored

Paying a Premium: Super Bowl LX Is a Hot Ticket

Super Bowl LX ticket prices are among the highest of the decade. TickPick data breaks down demand, pricing trends, and where fans are buying.
Sponsored

From AUSL to Women’s Hoops: Jon Patricof on Building Leagues

Jon Patricof on athlete equity, fan-first strategy, and how women’s sports can reshape the future of league building.
February 4, 2026

Manfred, DeSantis Support Rays Stadium, Funding Questions Persist

Hillsborough County, Fla., enters a “framework” to negotiate with the team.
February 1, 2026

Australian Open Attendance Boom Fuels Ambitions, Fan Frustrations

Despite rising fan complaints, event organizers are thinking much bigger.
January 29, 2026

Royals Stadium Plans Hit Suburban Dead End, Push Back Downtown

Two more suburban options have been eliminated in the long-running site search.
January 27, 2026

NFL Stadium Designers Battle to Win $3B Chiefs Project

The NFL team is choosing between two locally based firms to design its stadium.