Pinellas County Approves $312.5M Bond for Rays' $1.3B Stadium Project

The Tampa Bay Rays' new stadium in St. Petersburg faces rising costs and delays, requiring further negotiations to address funding gaps.

The Pinellas County Commission voted 5-2 to approve $312.5 million in bonds for the Rays' proposed $1.3 billion stadium, part of a larger $6.5 billion redevelopment project in St. Petersburg's Historic Gas Plant District.
The St. Petersburg City Council previously approved $287.5 million for the project, with the Rays committed to contributing $700 million and covering cost overruns, though the team now says it cannot absorb additional expenses alone.
Delays in the bond vote, partly attributed to Hurricane Milton's damage to Tropicana Field, have pushed the stadium's planned opening from 2028 to 2029, increasing construction costs significantly.
Major League Baseball Commissioner Rob Manfred played a key role in securing support for the deal, emphasizing the importance of keeping the Rays in the Tampa Bay area for another 30 years.
The Rays and local officials must resolve a funding gap by March 31, 2025, to move forward, with the team signaling readiness for further negotiations to address rising costs.