Tampa approves $2.3B deal for new Rays ballpark

TAMPA BAY, Fla. — City officials on Thursday approved a $2.3 billion deal for a new Tampa Bay Rays ballpark funded by public and private money.

The 4-3 vote by the Tampa City Council came three months after a tentative agreement was reached for a stadium, which would include $967 million in tax money.

Rays Chief Executive Officer Ken Babby said in a statement that the stadium project will “deliver lasting benefits” for the region.

“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 neighbourhood that will serve our region for generations,” Babby said Thursday.

Hillsborough County Commissioners will vote on the project Friday morning.

The Rays ownership reached an agreement earlier this year with Hillsborough College to build the stadium and mixed-use entertainment district on the campus and to renovate some of the school's buildings. The property is located next to the New York Yankees’ spring training facility and across a highway from Raymond James Stadium, home of the Tampa Bay Buccaneers.

The Rays have said they hope to have the new stadium built within three years.

Since the team took the field in 1998, the Rays have played at Tropicana Field in St. Petersburg, except for moving home games to the Yankees' George M. Steinbrenner Field in 2025 following hurricane damage at the Trop. The Rays' lease runs through at least the 2028 season. The team returned to the Trop last month for the start of this season.

A proposed $1.3 billion redevelopment deal for a new ballpark adjacent to the Trop fell through last year, raising new questions about the future of the team, which was bought last September by Patrick Zalupski’s ownership group.