Tampa Bay Rays reach tentative deal for new $2.3 billion stadium
Hillsborough County would pay about $796 million and the city’s tab would be $180 million. The Rays plan to contribute $1.27 billion.
TAMPA — The Tampa Bay Rays have reached a tentative financing agreement for a new $2. 3 billion baseball stadium in Tampa, across the bay from their longtime St. Petersburg home.
The agreement, known as a memorandum of understanding or MOU, is scheduled for votes next week in Hillsborough County and the City of Tampa for their contributions in public money. Under the proposal, the county would pay about $796 million and the city’s tab would be $180 million from sales taxes and other revenue sources. The Rays, meanwhile, plan to cover half the stadium cost, about $1.
27 billion plus any overruns. The goal is to have the new ballpark ready for the 2029 season. The Rays will continue to play at Tropicana Field in St.
Petersburg until then, if the Tampa project comes to fruition. How long would the new stadium keep the Rays committed to Tampa? Rays CEO Ken Babby, part of a group that bought the Rays in September 2025, said the tentative agreement would guarantee the team stays in the Tampa Bay area for decades to come.