Full Breakdown
Tampa Bay Rays Secure Preliminary Stadium Deal with Hillsborough County and City of Tampa
5/15/2026, 5:19:50 AM
Deal Overview
Memorandum of understanding (MOU) between the Rays, Hillsborough County and Tampa sets a June 1 deadline to finance a $2.3 billion ballpark on Dale Mabry Campus by 2029.
Background
The Rays need a home as their Tropicana Field lease ends. An April MOU sought $1.1 billion in funds; officials demanded tighter safeguards, leading to revisions.
Finances
The Rays will fund $1.1 billion. County and city will contribute $976 million ($796 M and $180 M), below the requested share. Financing options: a CIT bond, tourist tax, and property-tax reserves.
Official Statements
Babby said the MOU protects public money and is a rare moment for Tampa Bay. DeSantis said the state will not fund the stadium but may support infrastructure. Wostal said it has severe deficiencies and cost estimate unclear. City Council Chair Alan Clendenin described the MOU as a letter of intent.
Criticism
Wostal warned a CIT bond could jeopardize fire services and that using property-tax reserves might compromise disaster relief. Senate Appropriations Chair Ed Hooper urged legislature to wait for financing issues before committing state money.
Conflicts
The Rays originally sought $1.1 billion in public funds, but the MOU offers $976 million. Financing the private share and cost-overruns remain unclear. No binding agreement exists, and the MOU lacks a cost breakdown.
Quotes
- “The Rays respectfully but resolutely encourage Hillsborough County and the City of Tampa to approve the MOU and make possible a Forever Home for our community’s Tampa Bay Rays, breathe new life into the Dale Mabry Campus of Hillsborough College, and create a new privately financed neighborhood that will be an inviting and inclusive destination to work, live, learn, and play.” — Ken Babby, CEO, Tampa Bay Rays
- “We’re not doing, at the state level, money for a stadium and we have not done that since I’ve been governor.” — Ron DeSantis, Governor of Florida
- “If you bond the funding mechanism, the entire revenue source is now at the mercy of the debt payment that you have to pay every year… all of the fire rescue and first responder items are still at extreme risk if we use a penny of the community investment tax.” — Joshua Wostal, Hillsborough County Commissioner
- “I believe that the Rays did give a little bit to be able to ensure the city is protected from the city’s perspective.” — Alan Clendenin, Tampa City Council Chair
- “This is a rare and perhaps unprecedented moment for Tampa Bay.” — Ken Babby, CEO, Tampa Bay Rays
Next Steps
County commission will vote May 20; city council May 21. Rays aim to finalize financing before June 1 to keep the 2029 opening. State may fund transportation and campus improvements, not stadium construction.
