St. Petersburg Moves Forward with $312 Million for Tampa Bay Rays Stadium
St. Petersburg, Fla. – In a significant decision, the Pinellas County Commission voted to approve a plan that allocates $312 million for the construction of a new stadium for the Tampa Bay Rays. The vote, which occurred on Tuesday night, has sparked a mix of optimism and concern among local officials and the team’s management.
Understanding the Vote
The funding outlined in the agreement is seen as crucial for keeping Major League Baseball in the region. Commissioner Chris Latvala, who supported the funding, stated in an interview that he believes the chances of the Rays leaving the Tampa Bay area are nearly zero, thanks to assurances from the MLB commissioner regarding the league’s commitment to the market.
“I would put the possibility of baseball ever leaving this market at pretty close to nil,” Latvala reiterated, emphasizing his faith in the MLB’s intentions to maintain the team’s presence.
The Rays’ Concerns
However, shortly after the vote, the Tampa Bay Rays issued a statement expressing concern about the escalating costs associated with the stadium project. They revealed that the costs have risen significantly, leading them to state, “We cannot absorb the cost alone.” This has raised eyebrows and questions about the team’s financial viability moving forward.
In response to the Rays’ concerns, Latvala offered a blunt suggestion: “If you can’t afford it at this point, I think there’s only one move for you to make and that’s to sell the team.” Other commissioners echoed his sentiments, indicating that they are not willing to renegotiate the terms to provide additional funding.
Official Stances on the Deal
Pinellas County Board Chair Kathleen Peters affirmed her stance post-vote, ensuring that “there’s not one commissioner on this board that would be entertaining renegotiating if they’re asking for more money.” This perspective aligns with comments from St. Pete Mayor Ken Welch, who stressed that any financial shortcomings on the Rays’ side would need to be addressed by the team itself.
Future Challenges
As both parties move forward, the urgency is palpable. The Rays have indicated that delays in bond approvals have contributed to increased construction costs, impacting the timeline for their potential new home. Current projections suggest that the new stadium may not be ready until 2029.
Rays executives have further expressed concern regarding lost revenue from playing outside of Tropicana Field, which has necessitated the city’s actions to address these financial gaps. City officials have cited various ways the Rays could cover any shortfalls they may encounter as construction progresses.
Uncertain Path Ahead
The tension between the Rays and local officials raises questions about ownership’s next steps. As they face escalating costs, the Rays have mentioned that they remain ready to collaborate on resolving the funding gap while hinting at potential outside investors who may bridge their financial issues.
Moreover, the Rays have lined up terms to secure a $100 million loan from MLB dedicated to stadium construction. However, they must meet specific conditions by March 31 to finalize that funding or risk losing control of the land intended for the new stadium.
The outcome ahead remains uncertain, with both sides emphasizing the need for clarity as they navigate this complex situation. The ongoing discussions between the Tampa Bay Rays and local authorities will be crucial in determining the future of baseball in St. Petersburg.
