Hillsborough County and Tampa City Council Approve New Rays Stadium Deal

County and City Approvals Secure the Rays’ Future in Tampa

Major League Baseball in Tampa Bay has a secured home after two decades of stadium negotiations. The Hillsborough County Commission agreed on Friday, in a 5-2 vote, to approve the deal. It comes on the heels of another key approval by Tampa City Council in a 4-3 vote on Thursday.

If county commissioners approve the deal, the Rays will have solidified their future plans and nearly concluded a stadium saga that has spanned two decades.

Today’s affirmative vote by the Tampa City Council is incredible news for the entire Tampa Bay community,” Rays chief executive officer Ken Babby said in a statement. “The Tampa Bay Rays are grateful for the leadership and support of the City Council members to approve an investment that, when accompanied by the private funding guaranteed by the Rays, will secure the future of Major League Baseball in Tampa Bay while creating a landmark destination neighborhood that will serve our region for generations.

We look forward to tomorrow’s Hillsborough County Board of County Commissioners meeting and the opportunity to continue advancing a project that will deliver lasting benefits for the Tampa Bay region.

Rays CEO Ken Babby says Thursday’s vote is an important step toward securing the team’s future in Tampa. It was nearly 14 weeks ago that we were in the room here and voted on an MOU, he said. Today is a really important step forward in securing the forever home of the Tampa Bay Rays right here in Tampa.

Tampa City Council members Alan Clendenin, Naya Young, Luis Viera and Bill Carlson voted in favor of the proposal. Lynn Hurtak, Guido Maniscalco and Charlie Miranda voted against the deal.

I want to thank our City Council members who voted today to move this transformational project forward,” Tampa Mayor Jane Castor said in a statement. “They recognized an extraordinary opportunity to secure the Rays’ future in Tampa and advance a development that will create jobs, spur investment and deliver lasting benefits for our community.

The opportunity before us is about much more than a ballpark. It’s about jobs, economic development, new investment and creating a destination that will generate benefits throughout Hillsborough County for decades to come.

Breaking Down the $2.3 Billion Financial Framework

The updated agreement established a financial framework for the $2.3 billion stadium project. Now, the Rays are set to invest approximately $1.37 billion, plus all cost overruns, with the county covering $796 million and the city’s portion reduced to $80 million.

Hillsborough County would remain responsible for approximately $800 million. Hillsborough County commissioners authorized the county’s portion of the funding for a new Tampa Bay Rays stadium — almost $800 million.

The definitive documents released last Friday replaced Tampa’s $100 million Community Redevelopment Agency (CRA) contribution with a Community Development District (CDD) that will be privately financed by the Rays. City administrators proposed an $80 million loan to the Rays that would be paid in four installments. The loan will eventually be paid off by the revenue the surrounding development takes in. However, the city will have to pay interest until the revenue comes in, which could cost between $40 million and $50 million.

Sharp Divisions Surface During Public and Council Debates

Tampa City council members began debating this at 12:30 p.m. Thursday and heard from dozens of public speakers and debated the deal amongst themselves. Public speakers who spoke in favor of the project brought up the economic benefit, the improvements to Hillsborough College and what the Rays mean to the community. Those who were against it said the economic benefit may not come, that this is being rushed and that billionaires should be paying for their own stadiums.

“When you look at your kids, grandkids, your children, that when they’re graduating from that college, and they have that internship, they have the job, or the workers at the ballpark, that you can turn to them and say… ‘I was a part of that. I helped your future,’” one public speaker said.

This is your legacy, another public speaker said. You guys, none of you will be sitting on council by the time all of the revelation of what this turns out to be comes to pass. You do not want people remembering you as the people who screwed the city 20 years ago.

Councilwoman Lynn Hurtak said Tampa should reject using taxpayer money to subsidize professional sports team owners.

“Now is the time to prove that Tampa is the smart city,” she said. “Tampa is the one that finally said no to the surge of forcing taxpayers to subsidize billionaire team owners.”

Councilwoman Lynn Hurtak, Tampa City Council

I didn’t change my mind. The deal changed, Carlson said during Thursday’s meeting. The only thing that changed is I’m representing the people of this city, and I want to get what’s in the best interest of the city.

Viera called it a good deal for the City of Tampa, praising the Rays’ extremely inclusive approach in negotiating the agreement.

This deal is not perfect, Young added. But what I do see is opportunity.

Tight Timeline Targets an Opening Day Debut in 2029

If the Hillsborough County Commission also approves the deal on Friday, the Rays can move to commence the bond and funding validation process before finally breaking ground on the Hillsborough College North Dale Mabry campus.