Rays, Hillsborough County Reach $2.3 Billion Stadium Terms as Public Share Caps at $976 Million
Updated
Updated · Bay News 9 · May 14
Rays, Hillsborough County Reach $2.3 Billion Stadium Terms as Public Share Caps at $976 Million
9 articles · Updated · Bay News 9 · May 14
$2.3 billion in preliminary stadium terms were set in a non-binding memo of understanding between the Tampa Bay Rays and Hillsborough County, targeting an opening for the 2029 season.
$976,024,522 is the maximum public contribution under the framework, including county and city Community Investment Tax caps of $360 million and $80 million, while the Rays would cover cost overruns and capital repairs.
Joshua Wostal, a county commissioner, said the memo has "severe material deficiencies" and argued the Rays have not adequately explained the $2.3 billion price as commissioners prepare to vote.
$150 million in state funds could hinge on local approvals by the end of May, with the Rays' June 1 deadline tied to keeping the 2029 construction timeline on track.
Next week brings key votes and meetings from Hillsborough College, the county and the City of Tampa, making the memo an early step rather than a final stadium agreement.
With officials demanding financial proof, what protects taxpayers if the Rays' $1.27 billion stadium contribution falls short?
History shows stadium deals often fail. What makes Tampa's $2.3 billion plan for the Rays different?
How can a new Rays stadium cost the public nearly $1 billion yet have 'zero impact to taxpayers'?