Reports from the Tampa Bay Rays organization or MLB announcements

Pinellas County Approves $312.5M in Bonds for $1.3B Tampa Bay Rays Stadium in 5-2 Vote

Dec 17, 2024, 09:11 PM

The Pinellas County Commission has approved the sale of bonds to finance a new $1.3 billion stadium for the Tampa Bay Rays in St. Petersburg, with a vote of 5-2. The decision comes after two previous delays and amidst ongoing discussions about the financial viability of the project. The approved bonds will unlock $312.5 million in funding from the county, part of a larger funding plan that includes contributions from the city of St. Petersburg. Despite the approval, the Rays have expressed concerns over cost overruns due to delays, stating that the current deal's finances do not work for them and that the stadium's completion is now expected in the 2029 season. The team has completed 50% of the stadium design and spent $11.6 million so far. The vote was influenced by discussions with MLB Commissioner Rob Manfred, with some commissioners expressing distrust towards the Rays' management but voting in favor to keep the project moving forward. The stadium project is part of a broader redevelopment plan that includes the Historic Gas Plant District, which was approved in a July vote.