Tampa Bay Rays Won't Move Forward With Plans for New $1.3B MLB Stadium

As the Tampa Bay Rays look to figure out a long-term solution to their ongoing stadium questions, they have given up on a proposed $1.3 billion project in the Historic Gas Plant District.

In a statement released on Thursday, Rays owner Stuart Sternberg said the club has "concluded we cannot move forward with the new ballpark and development project at this moment."

Per Colleen Wright of the Tampa Bay Times, the Rays had a March 31 deadline to move forward with the deal to build a new stadium and develop the land around it.

The Rays announced in September 2023 an agreement with the city of St. Petersburg and Pinellas County to build a new stadium as part of a redevelopment of the Tropicana Field site.

There were still hurdles to clear after the agreement, including a public approval process with votes needed from the St. Petersburg City Council and Pinellas County Commission.

The Rays released renderings for the proposed ballpark last May.

The situation became more complicated in October when Hurricane Milton made landfall in the Tampa Bay area, causing the translucent fiberglass roof at Tropicana Field to be ripped away.

There was also significant water damage inside the stadium that combined with the roof damage, the city has estimated will cost roughly $55.7 million to repair.

The St. Petersburg City Council initially approved more than $23 million in funding to assist with the repairs, but later reversed that decision.

"I can't say I'm confident about anything," Rays co-president Brian Auld told the city council about where things stand with the new stadium plan and future status of Tropicana Field.

Officials in Pinellas County did approve $335 million in bonds and realign funds to assist the Rays with the cost of the new stadium, bringing the total amount in funding to $600 million when adding in the city of St. Petersburg's contributions.

However, due to hurricane recovery efforts in the state, delaying the funding vote until December caused the Rays to raise questions about whether they would be able to complete construction on the new park in time for the originally planned 2028 opening.

Rays officials said the delay inadvertently pushed the opening to 2029. Under the terms of the original agreement, the team would be responsible for any costs overruns.

"As a result [of the later expected completion date], the cost of the project has increased significantly, and we cannot absorb this increase alone," Rays president Matt Silverman said at the time. "When the county and city wish to engage, we remain ready to solve this funding gap together."

Since the repairs needed for Tropicana Field will make the stadium unusable until 2026, the Rays will play home games this season at George M. Steinbrenner Field in Tampa. The field is the spring training home for the New York Yankees, as well as their Single-A affiliate in the minor leagues.

The Rays' stadium announcement comes days after a report from The Athletic's Evan Drellich that MLB commissioner Rob Manfred and several other team owners are pressuring principal owner Stuart Sternberg to sell the franchise due to ongoing issues with securing a new stadium.

Sternberg originally purchased an ownership share of the Rays in May 2004. He has been a managing general partner since October 2005.