The Tampa Bay Rays, citing hurricanes and costly delays, will not proceed with the development of a $1.3 billion baseball stadium in St. Petersburg, Florida, principal owner Stuart Sternberg said Thursday.
“After careful deliberation, we have concluded we cannot move forward with the new ballpark and development project at this moment,” Sternberg said in a statement. “A series of events beginning in October that no one could have anticipated led to this difficult decision.
“Our commitment to the vitality and success of the Rays organization is unwavering. We continue to focus on finding a ballpark solution that serves the best interests of our region, Major League Baseball, and our organization.”
Under their current contract with the city of St. Petersburg, the Rays would play three more seasons at Tropicana Field after it is repaired. Beyond that, the team’s future in the Tampa Bay area is uncertain.
The proposal to build the 30,000-seat stadium to replace outdated Tropicana Field as the signature piece in a $6.5 billion revitalization of the Historic Gas Plant District was met with excitement last summer when the team and public officials announced the deal.
Local government agencies had approved the sale of bonds to pay their share, but the Rays had until March 31 to meet specific conditions to gain public financing, including showing proof that they could meet their minimum $700 million obligation — not including likely cost overruns — toward the project.
Financing delays, however, led to Sternberg’s decision to not proceed.
Tropicana Field sustained significant damage in October after the roof was shredded during Hurricane Milton, rendering the stadium unplayable in 2025. Instead, the Rays will use the New York Yankees‘ spring training site in Tampa as their home field this season.
Sternberg said Thursday that the City of St. Petersburg is advancing on plans to restore Tropicana Field in time for the 2026 season.
“We are thankful for their efforts and are excited to return to our home field next spring,” Sternberg said.
The Rays, who have played at Tropicana Field since their inaugural 1998 season, averaged 16,515 fans in 81 home games last season — third worst in Major League Baseball.
MLB and the Rays could evaluate attendance and fan interest during the team’s season in Tampa at Steinbrenner Field — which seats 11,000 — as they consider alternate sites.
The Associated Press and Field Level Media contributed to this report.
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