A New Era for Tampa Bay Baseball
Tampa Bay officials have given the green light to a $2.3 billion stadium project that will become the new home of the Rays. The financing package includes more than $876 million from county and city sources, underscoring a rare level of public support for a Major League Baseball franchise.
The planned 31,000‑seat venue will sit adjacent to Raymond James Stadium, the home of the Buccaneers, and is slated to open in 2029. It will replace the aging Tropicana Field in St. Petersburg, where the Rays have played since 1998, and will be built on the campus of Hillsborough College, which will also see targeted renovations as part of the development.
Rays principal owner Ken Babby emphasized the partnership with both county and city leaders, stating that the project is vital for the long‑term viability of Major League Baseball in Tampa Bay. The team has pledged at least $1.3 billion toward construction, with additional funds earmarked for cost overruns and a $30 million infusion from federal disaster‑recovery allocations.
The initiative follows the recent acquisition of the franchise by Patrick Zalupski’s ownership group and comes after a similar $1.3 billion redevelopment proposal near Tropicana Field collapsed last year. Zalupski described the approval as an "extraordinary milestone" for the region, while Babby highlighted the stadium’s role in providing a modern, sustainable venue for fans and the community.
The new ballpark will sit across a highway from the Yankees’ spring‑training facility and will be positioned next to the team’s practice complex, creating a unique sports hub. The Rays’ lease at Tropicana Field is set to run through at least the 2028 season, giving the organization a clear timeline to transition to the new site.