The Tampa Bay Rays have signed a nonbinding memorandum of understanding with officials in Florida’s Hillsborough County and the City of Tampa on a public-private partnership to construct a new ballpark.
The Associated Press reports the tentative agreement would include $967 million of tax dollars to finance the $2.3 billion stadium, which will be built on the campus of Hillsborough College. Elected officials for the city and county are expected to hold meetings next week to discuss and vote on the deal.
The team has played at Tropicana Field in St. Petersburg since their 1998 launch. After the stadium was damaged by Hurricane Milton in 2025, the team temporarily relocated to the New York Yankees’ spring training facility Steinbrenner Field until their home venue reopened last month for the 2026 season.
The Rays’ lease at Tropicana Field runs through at least the 2028 season.
“The Rays respectfully but resolutely encourage Hillsborough County and the City of Tampa to approve the MOU and make possible a forever home for our community’s Tampa Bay Rays, breathe new life into the Dale Mabry Campus of Hillsborough College, and create a new privately financed neighborhood that will be an inviting and inclusive destination to work, live, learn, and play,” said Rays CEO Ken Babby in a statement.
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