IMAGE: Tampa Bay Rays
Tampa and Hillsborough County have approved the major agreements for a new $2.36 billion Tampa Bay Rays stadium, moving the franchise closer to leaving Tropicana Field after the 2028 season.
TAMPA, Fla. The Tampa Bay Rays have cleared the largest government hurdles standing between the team and a new $2.36 billion ballpark in Tampa.
The Tampa City Council voted 4-3 on Aug. 27 to approve the stadium agreement. The following day, the Hillsborough County Board of County Commissioners approved its portion of the deal 5-2.
Those votes establish the primary development and financing framework for a new fixed-roof stadium on the Hillsborough College Dale Mabry campus, near Raymond James Stadium and Tampa International Airport.
The Rays are targeting an April 2029 opening. Their current agreement to play at Tropicana Field in St. Petersburg expires after the 2028 season.
IMAGE: Tampa Bay Rays
Where Will the New Rays Stadium Be Built?
The proposed ballpark would be built at the corner of Dale Mabry Highway and West Tampa Bay Boulevard on the Hillsborough College campus.
The location sits across Dale Mabry from Raymond James Stadium and near George M. Steinbrenner Field, the New York Yankees’ spring training facility.
The stadium would anchor a much larger redevelopment of the college property.
Plans call for a modernized Hillsborough College campus alongside a privately financed mixed-use district with residential, hospitality, business and entertainment development.
Hillsborough County officials have described the broader project as part of an estimated $8 billion private-sector investment.
The definitive stadium documents call for a fixed roof and a minimum of 28,000 seats. Hillsborough County would own the ballpark, while the Rays would pay approximately $4 million per year in rent.
How Much Will the New Rays Stadium Cost?
The estimated stadium cost is $2.36 billion.
Under the approved financing framework:
- The Rays and their ownership group would contribute approximately $1.37 billion, plus all construction cost overruns.
- Hillsborough County would contribute $796 million.
- The City of Tampa would contribute $80 million.
Most of the county contribution would come through existing revenue sources.
Approximately $360 million is expected to come from Hillsborough County’s Community Investment Tax, while about $303 million would come from Tourist Development Tax revenue.
The Rays are also expected to privately finance the mixed-use development surrounding the stadium.
The agreement includes an initial 35-year stadium use term and a non-relocation commitment from the team.
IMAGE: Tampa Bay Rays
Is the Rays Stadium Deal Final?
The city and county votes represent the most significant approvals in the stadium process, but several pieces still must be completed before the project is fully ready for construction.
Hillsborough County said negotiations are expected to continue on additional agreements, including the:
- Ballpark License and Use Agreement
- Community Benefits Agreement
- Construction Funds Trust Agreement
The financing and bond validation process must also move forward.
The Tampa Bay Times reported Sept. 1 that despite the major approvals, several steps remain before construction can fully begin.
That distinction is important. The Rays now have an approved framework and a defined stadium site, but the Aug. 27 and Aug. 28 votes do not mean every legal, financial and construction requirement has been completed.
Rays Target Opening Day 2029
The current schedule calls for the new Rays stadium to be ready for the 2029 Major League Baseball season.
Documents released before the final votes laid out an aggressive timeline calling for substantial completion by the end of 2028 and final completion by March 31, 2029. Hillsborough County lists the anticipated ballpark opening as April 2029.
The deadline corresponds with the end of the Rays’ current Tropicana Field agreement.
The team is expected to continue playing in St. Petersburg through the 2028 season while work on the Tampa stadium progresses.
IMAGE: Tampa Bay Rays
Are the Rays Moving From St. Pete to Tampa?
Under the approved stadium plan, the Rays intend to move their home games from St. Petersburg to Tampa beginning in 2029, assuming the remaining agreements are completed and construction stays on schedule.
The franchise has called Tropicana Field home since its inaugural season in 1998.
The team has spent roughly two decades pursuing alternatives to the Trop, with potential stadium locations and redevelopment proposals emerging on both sides of Tampa Bay.
A previous proposal would have kept the Rays in St. Petersburg as part of a redevelopment of the Tropicana Field and Historic Gas Plant District site. That effort ultimately did not produce a new stadium.
The Hillsborough College proposal has now cleared the city and county approvals necessary to give the Rays their clearest path yet to a permanent stadium outside St. Petersburg.
For St. Pete, that makes the remaining seasons at the Trop much more defined.
What Happens to Tropicana Field?
The Tampa stadium deal does not determine what will ultimately happen to Tropicana Field or the surrounding Historic Gas Plant District.
Those questions remain separate from the Rays’ Tampa stadium project.
The team is still expected to play at Tropicana Field through 2028, giving St. Petersburg time to determine the longer-term future of the stadium property as the Rays prepare for their planned move.
For now, the Trop remains home.
But there is an expiration date.
IMAGE: Tampa Bay Rays
What Happens Next With the Rays Stadium?
With the Tampa City Council and Hillsborough County Commission votes complete, attention now moves toward final agreements, financing, and construction.
The remaining work includes completing the stadium operating and community benefits agreements, advancing the bond and funding validation process, and preparing the Hillsborough College site for construction.
If the current schedule holds, the Rays would play their final season at Tropicana Field in 2028 before opening the new Tampa ballpark in 2029.
After years of proposals, failed plans, and uncertainty surrounding the team’s long-term home, the stadium question has moved significantly closer to an answer.
The Rays are still in St. Pete.
But their planned next address is now across the bay.
The Rays are still in the Burg for now. Catch them at the Trop while you can. St. Pete Vibes readers can get 20% off select Rays tickets.