Pinellas County Commission is in-line to potentially have the crucial final word on the deal to deliver a proposed $1.3bn (£1.02bn/€1.23bn) ballpark for the Tampa Bay Rays, after St. Petersburg City Council voted to approve its side of the financing deal for the project.
Having appeared to have been on a smooth road to final approvals earlier this year, the stadium project for the MLB team has been dealt substantial blows in the wake of Hurricane Milton, which in October caused major damage to the team’s current home, Tropicana Field.
In July, the Rays had said they looked forward to building the “best neighbourhood ballpark in Major League Baseball” after clearing what appeared to be the final key hurdle for a stadium project that has been 17 years in the making.
The Pinellas County Board of County Commissioners approved an historic partnership with the City of St. Petersburg and the Rays to build a multi-purpose ballpark that will anchor the City’s transformative $6.5bn Historic Gas Plant District redevelopment project.
The Commission voted 5-2 to contribute $312.5m of bed tax revenues toward the stadium design and construction. This tourist development tax provides revenue which the County can legally spend on a limited range of projects meant to encourage tourism, including sports venues.
The County vote came after the Rays took a “huge step forward” towards ending their near two-decade search for a new ballpark earlier in the month after St. Petersburg City Council approved the Historic Gas Plant District Redevelopment scheme.
This earlier announcement also included the news that construction and development firm, Skanska, had been approved to oversee the redevelopment of the Historic Gas Plant property and the design and construction of a new MLB stadium for the Rays.
The City of St. Petersburg is set to spend $417.5m on the mixed-use district – $287.5m for the stadium and $130m on infrastructure. Pinellas County’s $312.5m commitment leaves the Rays to pay for more than half of the stadium’s estimated cost as well as any additions or overrun.
St. Petersburg City Council yesterday (Thursday) voted 4-3 to approve the bonds needed to fund its part of the stadium and mixed-use district. This followed a delay on the vote when the Council last met on November 21, with Rays president Brian Auld indicating that the deal was over, with City Administrator Rob Gerdes responding with a request for an official proclamation to that effect.
Council member Gina Driscoll, who had pushed for the original delay on the vote, said yesterday: “Are the Rays on the verge of sending a termination letter? Turns out they weren’t. They’re still in. And so am I.” Driscoll urged the County to “do their part and join us to see this through”, according to the Tampa Bay Times.
Attention will now turn to the County, which last month further delayed a financing vote on the scheme, with the Rays subsequently stating the planned 2028 delivery of the stadium has now been ruled out.
The issue has been rescheduled to December 17, with a vote in favour locking the Rays and development partner Hines into potential cost overruns the team says it cannot afford. A vote against would remove the County’s $312.5m financing pledge from the project’s budget.
The Rays’ anxiety over the current delays is tied to its side of the financing deal. Under the agreed-upon contract, the Rays are responsible for $700m for the stadium, plus significantly all cost overruns incurred by any delay.
Before yesterday’s vote, Mayor Ken Welch said Rays owner Stuart Sternberg attended a meeting at City Hall on Tuesday. He said there is “consensus” that the agreements approved in July are “valid and in effect,” but added “significant issues” remain with regards to the Rays’ stadium obligations. “The discussions were productive, and our options are becoming clearer,” Welch said.
The Rays last month decided they will play the 2025 MLB season at the New York Yankees’ spring training home, George M. Steinbrenner Field, due to the repair work needed for Tropicana Field.
