The Rays today announced an agreement with St. Petersburg and Pinellas County for a new $1.3B ballpark in downtown St. Petersburg near the Tropicana Field site starting in 2028 with a 30-year lease, according to Marc Topkin of the TAMPA BAY TIMES. The stadium, part of $6.5B, 20-year redevelopment of the 86-acre Historic Gas Plant District led by the Hines Co., would "seat around 30,000 under a pavilion-style fixed roof." It would have an "artificial turf field, air conditioning, some windows and 'operable walls to bring the outside in,'" plus "state-of-the-art amenities for fans and players." The financing plan calls for the city and county to "split an approximate" $600M public contribution, with the Rays "covering the remaining" $700M, plus any cost overruns. The Rays have been "exploring different ways to cover their share, which could include financing or selling equity in the team to investors." The agreements with St. Petersburg Mayor Ken Welch and Pinellas County administrator Barry Burton "require approval by the city council and county commission." Rays President Brian Auld said that they are "confident of getting with a goal of breaking ground around this time next year." Topkin noted the Pinellas County commission vote is "expected to be first, potentially before the end of this year." The city, which also is "involved in the complicated redevelopment agreement, would likely do so early in 2024." Hines senior managing partner Michael Harrison said about 20% of the redevelopment "should be in place when the stadium opens" (TAMPA BAY TIMES, 9/19).
SPONSORED CONTENT