Elected officials in Florida’s Hillsborough County have told the Tampa Bay Rays that they cannot meet the team’s demand to approve a financing deal on a proposed new stadium by June 1.
According to a WUSF report, the county said questions about funding, risk and the surrounding development need to be addressed before any agreement can be reached.
The team put forth a construction timeline for a $2.3 billion ballpark development that would open in time for the 2029 baseball season, with roughly half of the budget coming from public funding. Rays CEO Ken Babby claimed that missing the June 1 deadline would “materially increase costs.” Babby previously stated he would consider moving the team out of Tampa if the stadium project does not move forward.
County commissioners submitted a list of 14 questions detailing the financial aspect of the project, including the sources of the Rays’ private funding, risk allocations on potential cost overruns, and the proposed 35-year lease. The commissioners stated it would require 60 to 90 days after a memorandum of understanding on financing was reached before commissioners could reach a decision on the project.
“We are working diligently on the list of questions provided to us by the county and city and will share our responses with them soon,” said the Rays in a statement. “With the right public-private partnership, we can build a world-class ballpark by 2029 and remain focused on doing so.”
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