(The Center Square) – The Tampa Bay Rays are seeking $1 billion in public funding to build their new ballpark, the club announced on its MLB site.
The planned ballpark would be at Hillsborough College’s Dale Mabry campus and is projected to cost about $2.3 billion, with the Rays paying about $1.2 billion of that total, according to a memorandum of understanding between the team, the City of Tampa and Hillsborough County.
Of the $1.065 billion the team is seeking in public funding, $750 million would come from the county and $251 million from the city, though not from general funds. Rather, the money would come from sources including Hillsborough County’s Tourist Development Tax, the Community Investment Tax, and the Drew Park Community Redevelopment Area tax increment revenue bonds, according to the MLB.
“We are grateful for the collaborative efforts of Hillsborough County, the City of Tampa, and the Tampa Sports Authority, as we work together toward a shared vision for the Rays Forever Home in Tampa Bay,” said Tampa Bay Rays CEO Ken Babby in a statement on X. “This Memorandum of Understanding marks an important step forward and reflects a responsible public-private partnership that can be achieved through open communication and a commitment to getting this right for the community. We look forward to continuing these conversations with the County, City, TSA, Hillsborough College, and the community, as we refine the plan and move the process ahead.”
The Rays returned to Tropicana Field Monday for the first time since Hurricane Milton damaged the stadium in 2024.
After a $60 million roof repair, the team announced the Hillsborough College Board of Trustees approved a non-binding memorandum of understanding for The Rays to redevelop its Dale Mabry campus into a new ballpark district, complete with a stadium and a “Champions Quarter” neighborhood.
The park would have a capacity of 31,000 and include “celebration areas” and year-round event spaces, according to the Rays’ MLB page.
The plan is to have the new park ready by the start of the 2029 season. All parties must approve final agreements by June 1 for the ballpark to be on track to open by then, the MLB said.
Gov. Ron DeSantis said in February that the state was supportive of the proposal to make Hillsborough College the location of the new stadium, saying during a press conference that the plan has “a huge upside” for the college. He went on to say he was “very impressed” to see how the team’s leadership is thinking in regard to the stadium plans and referred to what the Atlanta Braves have done with their home location at The Battery, calling that vision “very compelling.”
“I look forward to seeing this vision ultimately becoming a reality,” the governor said.
