The Tampa Bay Rays are seeking to finance their proposed $2.3 billion new stadium with over $1 billion in public funds.
USA Today reports Rays CEO Ken Babby is seeking is $750 million from Hillsborough County, $251 million from Tampa, and another $64 million from a public funding source that has yet to be identified. The team pledged to pay for about half of the 31,000-seat venue, which would replace their longtime home at Tropicana Field in time for the 2029 season.
Babby added that he wanted the financing plan approved by June 1, which would enable the team to meet its construction timeline.
“Should this commitment ultimately not be achievable, we would have no choice but to evaluate alternatives,” Babby said in a letter to the county.
While Florida Gov. Ron DeSantis has shown support for the project, elected officials in Hillsborough County have been more cautious about the endeavor after reviewing the financing plan.
“I would love to be able to vote yes on this,” said County Commissioner Harry Cohen. “But I can only vote yes on it if I’m absolutely convinced that it’s the right thing for the community and the taxpayers.”
The Tampa City Council is scheduled to review the Rays’ proposal in a May 5 meeting.
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