Full Breakdown
Tampa Bay Rays Secure Funding for $2.3 Billion “Forever Home” Stadium
8/29/2026, 8:46:27 PM
Core Event
The Hillsborough County Commission approved a $796 million contribution to a mixed-use district that includes a new 31,000-seat ballpark for the Tampa Bay Rays. The vote followed the Tampa City Council’s approval of an $80 million loan, clearing the final public-funding hurdle for the $2.3 billion project slated to open for the 2029 season.
Background & Context
Since 1998, the Rays have played at Tropicana Field in St. Peterburg. A 2024 roof collapse forced a temporary move to the New York Yankees’ spring-training facility for 2025. Earlier attempts to replace Tropicana Field—including a failed $1.3 billion redevelopment—culminated in the current plan to build on the Dale Mabry campus of Hillsborough College in Tampa.
Timeline
- Friday: Hillsborough County Commission votes 5-2 to approve $796 million.
- Thursday: Tampa City Council votes 4-3 to approve an $80 million loan.
- 2029 season: Projected opening, ending the Rays’ lease at Tropicana Field (through 2028).
- 2031: County may reduce its contribution if state funding falls short.
Data & Statistics
- Total cost: $2.3 billion.
- Public financing: $796 million from the county (community-investment tax, tourist-development tax, property taxes) plus $80 million from the city and $30 million from federal disaster-recovery funds.
- Private financing: At least $1.3 billion from the Rays; the remaining private share is roughly $1.4 billion.
- Annual rent: $4 million per year for a 35-year lease.
- Land area: 115 acre site on the former Drew Park parcel of Hillsborough College.
- Community Benefits Agreement: 65 % of benefits allocated to the county, 35 % to the city.
Official Statements & Responses
Managing partner Patrick Zalupski called the vote “an extraordinary milestone.” Mayor Jane Castor said the vote makes the Rays “stay in Tampa” and thanked commissioners for the partnership. County Chair Ken Hagan framed the project as a “world-class community” requiring bold leadership.
Criticism & Opposition
Commissioner Harry Cohen noted concerns about whether the county’s larger financial share will yield sufficient returns.
Verbatim Quotes
- “We now look forward to celebrating before breaking ground with Hillsborough County and the City of Tampa on a future that has long been doubted, but will indeed happen,” — Ken Babby, Rays CEO
- “Today's vote makes it official. The Rays are staying in Tampa, and we are ready to build their future home,” — Jane Castor, Mayor
Conflicting Reports & Gaps
Public-funding totals differ across sources: most articles cite $796 million from the county plus $80 million from the city (total $876 million), while *The Sun* reports $967 million of tax money allocated, leaving the exact figure unresolved.
What’s Next
The agreement allows the county to begin bond validation and start construction as early as next month, with a target groundbreaking in 2025 and completion for the 2029 MLB season. Ongoing negotiations will finalize affordable-housing and local-hiring commitments.
