Tampa Bay Rays Secure Approval for New $2.3 Billion Stadium

The Tampa Bay Rays have obtained county approval for a financing plan to build a new stadium, with the decision made on Friday, following city officials' approval the previous day. This $2.3 billion project will replace Tropicana Field.

The Hillsborough County Commission voted 5-2 to approve its $796 million contribution to the mixed-use entertainment district, which will feature a new 31,000-seat stadium near Raymond James Stadium. The stadium is anticipated to open in 2029, with the Tampa City Council approving $80 million for the project.

Rays CEO Ken Babby expressed optimism about the partnership with local authorities, emphasizing the project's significance for the future of Major League Baseball in the region. The Rays plan to invest at least $1.3 billion, along with any cost overruns, while an additional $30 million will be sourced from federal disaster recovery funds. The stadium will be built on the campus of Hillsborough College, adjacent to the New York Yankees' spring training facility.