Rays Funding Deadline Quickly Approaches for $1.3B Stadium Deal
The countdown is on for the Tampa Bay Rays. The team needs to lock down their $1.3 billion stadium project in St. Petersburg’s Historic Gas Plant District by March 31, 2025.
So what do the Rays need before the March deadline? The Rays must demonstrate they have $700 million for their portion of the funding, along with submitting design documents and securing necessary permits and financing.
Local support remains solid. St. Petersburg put up $287.5 million for construction, while Pinellas County kicked in $312.5 million from tourist taxes. The city added another $142 million for infrastructure improvements around the site. But Mayor Welch says he doesn’t want to “spend another dime on the project”.
This latest effort caps a 17-year search for a new home field. Fresh talks kicked off in the fall of 2023, but weather issues and political changes got in the way.
Heavy hitters will shape the stadium’s design. Populous will draw up the plans, while Mortenson handles construction.
Tension grows between the team and city hall. While the Rays point fingers at officials for delays, local leaders push back, telling the team to keep its promises.
The whole deal reaches $6.5 billion. Despite growing friction, both city and county boards continue backing the plan.
The mayor fears the team might leave town. But if plans fall through, the Tropicana Field site could turn into something else entirely.
