Rays Advance Toward New $2.3 Billion Stadium

On May 22-23, 2026, the Hillsborough County Commission (5-2) and Tampa City Council (4-3) approved a memorandum of understanding that clears the financing hurdle for the Rays’ $2.3 billion stadium on the Dale Mabry campus of Hillsborough Community College. Public share is $967 million—$796 million from the county and $180 million from the city—while the Rays will contribute $1.2 billion and cover overruns. The project promises 7,500 jobs and targets a March 1, 2029 opening.

New Rays ballpark clears initial funding hurdles

Rays CEO Ken Babby called council approval a signal and said team is focused on a fair agreement that secures baseball. Mayor Jane Castor described the project as transformational for Tampa and Bay area, pledging work toward a contract. Senate Appropriations Chair Ed Hooper warned $50 million state contribution is not a done deal until financing terms are finalized.

New Rays ballpark clears initial funding hurdles

Councilor Charlie Miranda warned the offer is bad for taxpayers. Councilors Lynn Hurtak and others flagged the risk of pulling $80 million from the city’s sales-tax pool, jeopardizing infrastructure. Hooper echoed, questioning the prudence of committing $50 million without a binding local pact.

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State officials have not locked in the $50 million allocation; Hooper and Governor DeSantis say it depends on a finalized local financing deal. The funding formula—whether CIT sales-tax, a taxing district, or other mechanism—remains undefined, as does the $100 million CRA reinvestment composition.

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• “The Tampa City Council today sent a strong and positive message to our community by approving the non-binding Memorandum of Understanding and saying ‘yes’ to a Forever Home ballpark and the generational transformation for Tampa Bay that will follow.” — Ken Babby, CEO, Tampa Bay Rays

New Rays ballpark clears initial funding hurdles

• “It’s not a dead deal. This can be transformational, this project, not only for the city of Tampa, but it’s advantageous for the entire Tampa Bay area.” — Jane Castor, Mayor of Tampa

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• “Look, that’s not a done deal yet. I just believe that until that issue is resolved and signed and sealed, I don’t know that the state should commit $50 million to help Hillsborough College rebuild three buildings that are in dire need of a lot of upgrade and upkeep and renovation.” — Ed Hooper, Chair, Senate Appropriations Committee

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• “If this is your final offer, I’m looking right at you. If this your final offer, it’s a bad one. A terrible one for the taxpayers.” — Charlie Miranda, Tampa City Councilor

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The stadium and district could generate economic activity, attract fans of Yankees spring training and Buccaneers games, and reshape Tampa’s landscape, while critics warn of fiscal strain on resources.

New Rays ballpark clears initial funding hurdles

Negotiators aim to finalize a financing agreement by the June 1 target, after which the Rays will pursue a March 1, 2029 opening. The state budget, due Tuesday, will clarify the $50 million college allocation.

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