After several weeks of intense negotiations, Tampa Bay Rays ownership and local officials agreed to a nonbinding memorandum of understanding (MOU) on a $2.3 billion new ballpark deal, with governments paying $967 million.
The negotiations between the city of Tampa, Hillsborough County and the Rays ended in a tentative deal fairly close to what was proposed by the Rays in early April. The cost of the new covered ballpark has not changed, but the government contribution was reduced from $1.065 billion to $967 million, with the Rays pledging to cover any cost overruns. The deal could be approved by both the city and county as soon as next week.
“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,” Rays CEO Ken Babby said via press statement. “Paramount for the Tampa Bay Rays in this process was to arrive at an MOU that protects all public funding currently allocated for police, fire, emergency management or response functions, or other previously committed public safety or service priorities. We have accomplished that important and unconditional goal.
“This is a rare and perhaps unprecedented moment for Tampa Bay. The Tampa Bay Rays are all in on this opportunity and look forward to working with officials in the days ahead to bring this project to life.”
The Tampa Bay Rays ballpark would anchor a new entertainment complex at Hillsborough Community College, which would also see a redeveloped campus as part of the overall plan. An entertainment complex could have an economic impact beyond Rays game: the 113-acre Dale Mabry Campus of Hillsborough Community College is located south of Steinbrenner Field (spring-training home of the New York Yankees) and west of Raymond James Stadium (home of the NFL’s Tampa Bay Buccaneers). The plan divides the site into four quarters: A Champions Quarter containing the $2.3 billion ballpark at the corner of Dale Mabry and West Tampa Bay Boulevard; an Invention Edge housing the rebuilt Hillsborough College campus; The Row, a street running through the development; and The Canopy, open parkland marked by shade and greenery. The goal to create an environment that brings fan in early and keeps them after a game, while also attracting interest from Yankees and Buccaneers fans. If the plan seems familiar, it should be: this is the same exact blueprint the Atlanta Braves used to create Truist Park and The Battery mixed-use district in Cobb County.
Potential funding sources include the half-cent county hotel/motel tourist sales tax (which, presumably, would be raised), community investment tax proceeds and community redevelopment tax-increment revenue bonds.
The Rays would sign a 35-year lease with three five-year options at the end and include a nonrelocation clause. The team would manage the ballpark operations and cover repairs and insurance. The goal is a March 1, 2029 opening; the Rays’ Tropicana Field lease ends after the 2028 season.
Rendering courtesy Tampa Bay Rays.
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About Kevin Reichard
Kevin Reichard is founder and publisher of Ballpark Digest.