The Tampa Bay Rays took a major step toward securing their long-term future in the Tampa Bay region Friday, receiving county approval for a financing plan that will pave the way for a new $2.3 billion stadium and mixed-use entertainment district.
The Hillsborough County Commission voted 5-2 to approve the county’s $796 million share of the project, one day after the Tampa City Council narrowly approved its portion of the financing. The decisions clear a significant hurdle for the Rays as they prepare to replace Tropicana Field with a new 31,000-seat ballpark.
The new stadium is expected to open in 2029 and will be located near Raymond James Stadium, the home of the Tampa Bay Buccaneers. The site is part of a larger development planned on the campus of Hillsborough College, which also includes an entertainment district and renovations to several college buildings.
Rays CEO Ken Babby said the agreements with Tampa and Hillsborough County provide the foundation for the franchise to remain in the region for the long term.
The Rays have committed to contributing at least $1.3 billion toward the project, including responsibility for any cost overruns. An additional $30 million is expected to come from federal disaster recovery funds.
Tampa’s City Council voted 4-3 Thursday to approve $80 million toward the project, while Friday’s county vote represented a much larger public investment.
The stadium site has several major sports facilities nearby. It is next to the New York Yankees’ spring training complex and across a highway from Raymond James Stadium, creating the potential for the area to become a major sports and entertainment hub.
The project represents a dramatic change for a franchise that has called Tropicana Field in St. Petersburg home since its inception in 1998. The Rays played nearly all of their home games there until hurricane damage forced the team to relocate games to George M. Steinbrenner Field, the Yankees’ spring training home, during the 2025 season.
Tropicana Field was ready for the Rays’ return at the beginning of this season, and the team is currently scheduled to remain there through at least the 2028 season.
The path to a new stadium has been anything but smooth. A proposed $1.3 billion redevelopment project adjacent to Tropicana Field collapsed last year, once again creating uncertainty surrounding the Rays’ future in the region.
Those questions intensified until the franchise, now under the ownership of Patrick Zalupski’s group after its purchase in September, reached a new agreement for the Hillsborough County project.
With the county and city now approving their respective portions of the financing, the Rays have a clearer path toward construction of a new home.
If the project remains on schedule, Tampa Bay will move into its new 31,000-seat stadium in 2029, giving the franchise a modern ballpark and anchoring a broader mixed-use development designed to transform the surrounding area.
For Rays fans, the approvals represent more than the construction of a new stadium. They provide the clearest indication yet that Major League Baseball is set to remain in Tampa Bay for generations to come.
