According to reports, the Tampa Bay Rays are set to make a significant announcement on Tuesday regarding the completion of a deal to construct a new stadium in downtown St. Petersburg. The stadium is expected to be located near the current Tropicana Field site as part of the redevelopment of the 86-acre Historic Gas Plant District. The facility is scheduled to open for the 2028 season.
Based on preliminary information shared earlier this year, the new stadium is projected to have a fixed dome roof and an artificial turf field. It is estimated to accommodate around 30,000 spectators and is anticipated to cost more than $1.2 billion. The funding for the stadium project will be a collaborative effort between the Rays organization, the city of St. Petersburg, and Pinellas County.
Stuart Sternberg, the principal owner of the Rays, expressed optimism about the ongoing discussions with the city and county officials. He mentioned that negotiations were progressing smoothly and that a deal was likely to be reached by the end of this year. Additionally, Sternberg revealed that the team intends to finance approximately half or even more of the stadium project. The Rays have also been engaging with potential investors to contribute funding of at least $600 million in exchange for shares in the franchise.
The impending agreement is significant as it will secure a new home for the Rays after the completion of their 30-year lease at Tropicana Field in 2027. Team officials are hopeful that the new stadium will help boost revenues through increased attendance and enhanced sponsorship deals. The additional resources would then be utilized to improve the team’s facilities and raise player payroll.
The search for a new stadium has been a lengthy process spanning over 16 years, with various proposed sites and projects being considered on both sides of Tampa Bay. In 2016, the Rays obtained permission from St. Petersburg to explore the possibility of constructing a new stadium in Tampa. Despite ongoing discussions, a viable financing package could not be finalized.
At one point, there was also a plan to split the team’s home games between new open-air stadiums in Montreal and Tampa. However, this proposal was ultimately rejected by Major League Baseball officials. The recent stadium deal is expected to put an end to speculations about the team relocating to cities like Nashville or Las Vegas.
Further details regarding the Rays’ announcement have not yet been disclosed. This development has garnered considerable attention, and fans eagerly anticipate the news. Be sure to sign up for the Sports Today newsletter to receive daily updates on the Tampa Bay Bucs, Rays, Lightning, and college football throughout Florida. Stay connected with our coverage on Twitter and Facebook to never miss out on the latest news about your favorite Tampa Bay sports teams.