Rays unveil $2.3 billion plan for new Tampa ballpark

The Rays' latest push for a permanent home would put just under $976 million in public money behind a $2.3 billion ballpark, with Hillsborough County and the City of Tampa still needing to approve a nonbinding agreement before the project can move forward.

Under the framework unveiled Thursday, the county and city contribution would be capped at just under $976 million, down from an earlier public ask of more than $1 billion. The Rays said they would cover cost overruns. The financing would lean heavily on Hillsborough County's half-percent Community Investment Tax, a sales tax voters first approved in September 1996. That tax expires Nov. 30, 2026, but voters renewed it in November 2024 through Dec. 31, 2041, making it the key public funding source for a deal that now sits in front of elected officials.

In return, the team is promising a new stadium on the Dale Mabry campus of Hillsborough College, along with a mixed-use district and renovations to some campus buildings. The Rays said they want the ballpark ready for the 2029 season and set a June 1 deadline for a completed agreement. Ken Babby urged local governments to approve the plan, saying it could create a "forever home" for the franchise and bring new life to the campus. The stadium is also expected to have capacity for at least 31,000 seats.

The site places the Rays next to the New York Yankees' spring training complex and across the highway from Raymond James Stadium, in one of Tampa's most heavily developed sports corridors. Hillsborough College trustees unanimously approved an MOU for the campus redevelopment on Jan. 22, 2026, and Florida Gov. Ron DeSantis and the Florida Cabinet later approved conveyance of state land to the college for the project. Together, those steps gave the plan a broader civic footprint than a simple stadium deal, tying taxpayer money to a larger campus redevelopment.

The proposal still carries the weight of the franchise's uncertain history in the region. Hurricane Milton shredded the roof of Tropicana Field in October 2024, forcing the Rays to play the entire 2025 season at Steinbrenner Field. The team had announced plans to return to an updated Tropicana Field for 2026 after repairs. A $1.3 billion redevelopment deal near the Trop collapsed last year, deepening doubts about where the team would land next. Since MLB owners unanimously approved the sale of the Rays to Patrick Zalupski's group in September 2025, securing permanence has become a first-order priority. County Commissioner Joshua Wostal called the draft agreement a document with "severe material deficiencies," a reminder that the public-money question is still far from settled.