• Loading stock data...
Wednesday, December 11, 2024
Tune in on Dec. 11 at 1:05 p.m. ET for our last Future of Sports virtual summit of the year – Future of Sports: Marketing! Register Now

St. Pete Approves $1.3 Billion Rays Stadium, Ending Relocation Rumors

  • St. Petersburg’s city council formally approves the MLB club’s $1.3 billion stadium plan.
  • Team owner Stu Sternberg acknowledges prior ‘missteps’ but reaffirms his commitment to the market.
Tampa Bay Rays
Tampa Bay Rays

Nearly a generation of uncertainty surrounding the Rays and their status in the Tampa Bay market is now definitively ending as the St. Petersburg, Fla., city council on Thursday approved the club’s proposed $1.3 billion stadium and mixed-use development.

By the same 5–3 margin as a preliminary vote last month, the council gave the green light to a new, domed Rays stadium near the club’s current and much-maligned facility, Tropicana Field. The Rays’ plan for the new ballpark calls for the club to pay $700 million plus cost overruns, with the public sector contributing the remaining $600 million. 

Most meaningfully, the stadium deal finally ends years of relocation rumors and talk centered on the team’s low attendance at Tropicana Field.

“It is my belief that we are in an incredibly unique moment in our city’s history that is unlikely to be replicated in any other way that will be meaningful to our community,” said city council member Brandi Gabbard, one of the “yes” votes.

The city council vote was to approve a dozen legally binding agreements overseeing the funding and construction of the stadium and surrounding development in St. Petersburg’s Historic Gas Plant District. The matter now moves to the Pinellas County Commission to approve $312.5 million in tourist tax dollars, but the vote in St. Petersburg represented the key hurdle in the process.

Keeping the Faith

Despite the long period of doubt surrounding the Rays’ situation, both the club and MLB remained stalwart advocates of the market. 

“We’ve made a number of missteps over the years. We dust ourselves off. We come back again,” said Rays owner Stu Sternberg. “Things change in life, things change around in markets, and they change around in baseball. But as we’ve always been clear: We wanted to be here, and we want to be here to stay.”

Among those missteps was a prior, widely criticized plan by the club to split its season with home games in St. Petersburg and Montreal, an effort the club ultimately abandoned. The Rays released updated renderings (above) late last month on the planned St. Petersburg stadium, and they hope to break ground early next year in advance of a projected 2028 facility opening.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Notre Dame

College Football Playoff on Campuses Sends Ticket, Travel Prices Soaring

Postseason games are coming to South Bend, State College, Austin, and Columbus.
Sep 13, 2024; Bolingbrook, Illinois, USA; (Editors Notes: Caption Correction) Bryson DeChambeau of the Crushers GC and Brooks Koepka of the Smash GC shake hands after the first round of the LIV Golf Chicago tournament at Bolingbrook Golf Club.

DeChambeau, Koepka Hope Showdown Helps Unite LIV–PGA Tour

The golfers will compete against Rory McIlroy and Scottie Scheffler.

More to A’s Offseason Spending Plans Than Meets the Eye

Revenue-sharing guidelines are helping fuel the increased spending.
Joe Tsai

NFL Owners Set to Vote on Dolphins, Bills Stakes for Tsai, Carter,..

The deals are likely to be approved at the owners meetings in Dallas.

Featured Today

Nov 2, 2024; Denver, Colorado, USA; Detailed view of a Wilson NBA basketball held by a referee during the second half between the Utah Jazz against the Denver Nuggets at Ball Arena

‘Obvious Weak Point’: Refs Remain an NBA Gambling Concern

A season after Jontay Porter, the biggest risk may not be players.
Nov 2, 2024; Ann Arbor, Michigan, USA; Michigan Wolverines cheerleader runs with a flag before the game against the Oregon Ducks at Michigan Stadium.
opinion
December 7, 2024

College Football’s Billionaire Backer Era Begins

Is this the new normal in CFB recruiting?
LA Galaxy forward Dejan Joveljic (9) celebrates with midfielder Riqui Puig (10) after scoring a goal against Seattle Sounders FC in the second half in the 2024 MLS Cup Western Conference Final match at Dignity Health Sports Park
December 6, 2024

With or Without Messi, Major League Soccer Is Barreling Into the Future

After the Cup final, the league looks to accelerate its growth.
Dec 18, 2022; Lusail, Qatar; FIFA president Gianni Infantino claps during the awards ceremony after the 2022 World Cup final between Argentina and France at Lusail Stadium.
December 2, 2024

FIFA Wants More Matches. Resistance Is Growing Inside the Global Soccer World

Resentment and frustration over expanded schedules is nearing a breaking point.

Manfred Reinforces MLB Interest in Tampa Remaining Rays Home

The commissioner meets with state and county officials to support the Rays.
December 6, 2024

Las Vegas Doubles Down on Sports With $1.75B Ballpark and NBA Arena

Ballpark and arena projects in the booming sports market receive key approvals.
Dec 7, 2024; Washington, District of Columbia, USA; Washington Wizards guard Jordan Poole (13) reacts after the final horn against the Denver Nuggets at Capital One Arena.
December 10, 2024

Capitals, Wizards Owner Monumental Aims to Drive ‘Downtown D.C.’s Comeback’

Monumental Sports, which owns the Wizards, is ready to anchor a D.C. comeback.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
December 5, 2024

Rays Reversal: St. Pete Approves $287M Stadium Bond Package

The approval gives the embattled project a big dose of resurgent energy.
Jan 3, 2018; Philadelphia, PA, USA; General view as Philadelphia 76ers center Joel Embiid (21) runs across the center court logo during the third quarter against the San Antonio Spurs at Wells Fargo Center.
December 4, 2024

76ers Sweeten Arena Deal, Offer More Benefits Despite Fierce Opposition

The NBA team shows an openness to revising a key arena agreement.
December 3, 2024

A’s Vegas Ballpark Cost Rises to $1.75B, but John Fisher Can Afford..

Additional amenities and rising construction costs create a new price tag.
December 3, 2024

Roger Goodell, Josh Harris Lobby Senate on Behalf of RFK Stadium Bill

The team wants a new home by 2030. Could it be D.C.?