Story perspectives

Rays Secure $2.3B Stadium Deal, 7,500 Jobs

5/15/2026

Summary

Rays Sign MOU

The Tampa Bay Rays signed an MOU with Hillsborough County and city to build a $2.3 billion stadium.
The deal earmarks $796 million from county and $180 million from city, the Rays will provide $1.235 billion covering overruns, and sets votes for May 20 and May 21 to meet a June 1 deadline.
CEO Ken Babby said the MOU protects police, fire and emergency-services funding and that the ballpark will open for the 2029 season, creating 7,500 jobs.

Summary

Rays Sign Lease

The Rays will sign a 35-year lease with a non-relocation clause, mirroring Braves’ model.
After Hurricane Milton damaged Tropicana Field, team moved to Steinbrenner Field in 2025 and was bought by Patrick Zalupski’s group, sparking stadium talks.
Dale Mabry site will be split into Champions Quarter, Invention Edge, The Row and The Canopy and funded by a hotel/motel tax, community-investment proceeds and tax-increment bonds after a $1.3 billion ballpark plan collapsed.

History

Historical Context

Since the Dallas Cowboys opened AT&T Stadium in Arlington in 2009—an 80,000-seat arena—significant municipal subsidies have become a template for future NFL projects. The league’s recent stadium deals echo that model, prompting officials to examine long-term financial debt effects on local and fiscal budgets nationwide across multiple cities and community.

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Rays Sign MOU

The Tampa Bay Rays signed an MOU with Hillsborough County and city to build a $2.3 billion stadium.
The deal earmarks $796 million from county and $180 million from city, the Rays will provide $1.235 billion covering overruns, and sets votes for May 20 and May 21 to meet a June 1 deadline.
CEO Ken Babby said the MOU protects police, fire and emergency-services funding and that the ballpark will open for the 2029 season, creating 7,500 jobs.

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