ST. PETERSBURG, Fla. — From a done deal to a dead deal, to a "who knows?" deal, questions continue to circle the Tampa Bay Rays stadium saga, even after securing roughly $600 million in public funding to build a $1.3 billion state-of-the-art ballpark in St. Petersburg.
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The latest chapter of what’s become a contentious back-and-forth over the last several weeks ended Tuesday night, when Pinellas County Commissioners approved issuing more than $300 million in bonds to fund their share of the redevelopment project.
In the moments following the critical 5-2 vote, commissioners were optimistic the deal would be seen through.
“We’re looking forward to having a great baseball stadium and keeping the Rays here,” Chair Kathleen Peters said after the vote.
However, a statement from Rays co-president Matt Silverman that came at the same time portrayed less certainty. Saying the twice-delayed vote resulted in the project being pushed back a year, increasing costs significantly.
“It was unsurprising to see the Commissioners acknowledge how important the Tampa Bay Rays and our stadium development agreement are to this community and its citizens. As we have made clear, the County's delay has caused the ballpark's completion to slide into 2029. As a result, the cost of the project has increased significantly, and we cannot absorb this increase alone. When the County and City wish to engage, we remain ready to solve this funding gap together,” Silverman wrote.
The Rays say they’ve spent $50 million on the now-halted project, paperwork given to Pinellas County shows they spent $11.6 million through July.
Per the agreements, the Rays are on the hook for any cost overruns, and at a city council meeting last month their other co-president Brian Auld told reporters “It’s a nine-figure plus funding gap to make up.”
“I don’t think that’s going to be palatable to very many right now, particularly following hurricanes,” Auld added.
Leaders in both the county and city have said as much to this point, as they don’t plan on giving more public funds to the project.
“I don’t believe there is one commissioner on this board that would entertain renegotiating if they are asking for more money and I’m confident in the statement,” Peters said.
Right now, the Rays are in the batter’s box, if they still want the deal it’s theirs as long as they meet a dozen conditions before a March 31 deadline. If they fail to meet the obligations on that date, the deal terminates.
Among those conditions include showing the team has the funds to cover their portion of the stadium cost. If they do is still a question, especially as the team navigates a likely drop in revenue having to play in a smaller ballpark next year, and likely the year after with Tropicana Field ravaged by Hurricane Milton.
While commissioners wipe their hands of their involvement after approving bonds, they still question how a month-and-a-half delay could squander a 30-year project, noting the only deadline they were bound by was the one in March.
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Commissioner Chris Latvala, an outspoken critic of the deal and how the Rays have handled business following two hurricanes, called for new ownership—one who could cover the costs and follow the agreement that was made back in July.
“I urge Mr. Sternberg to sell the team to someone who lives here, works here, and truly cares about our community,” Latvala said during the meeting.
Latvala ultimately voted in favor of the bonds saying after a meeting with MLB Commissioner Rob Manfred, he realized it was the right decision to keep Major League Baseball and the Rays in the Tampa Bay area.
“As I’ve stated from the start, this deal could not happen without the impactful partnership of Pinellas County. I’m thankful for the Commission’s thoughtful deliberation and support of this transformational project,” St. Pete Mayor Ken Welch said. “We will continue to focus our work on repairs to Tropicana Field to meet our current obligations, and our ongoing discussions with the Rays and other stakeholders to move this project forward.”