ST. PETERSBURG, Fla. (WFLA) — As the Tampa Bay Rays focus on postseason games, a newly released outline breaks down the finances of the team’s recently announced new stadium.
In September, St. Petersburg Mayor Ken Welch announced “We’re excited to say that the Rays are here to stay.”
Renderings show plans for a 30,000-seat stadium on the same downtown site as Tropicana Field.
A final version of the project agreements released Tuesday breaks down the finances for the $1.3 billion ballpark.
According to the document, the city of St. Petersburg will pay $287.5 million sourced from “revenue bonds issued by the City and Intown CRA tax increment revenues.”
The outline goes on to say Pinellas County will contribute $312.5 million from “tourist development tax revenues and Intown CRA tax increment revenues.”
The agreement states that the Rays are responsible for the money spent “financing, developing, designing, constructing and furnishing” the new structure.
The agreement covers the cost of the new stadium but does not include plans for redevelopment planned outside the stadium. The ballpark will account for up to 20 acres of the 86-acre property.
The funding must be approved by the St. Petersburg City Council and Pinellas County Commission. Meetings discussing the plans are scheduled for October.
Some are already voicing concerns about the new stadium.
“The lie that is being told is that it is more important to build the city’s future around a baseball team rather than around the people,” one community member said.
Others question if a new structure on the same site will address concerns about low game attendance and little community involvement. On Tuesday, the team’s playoff game against the Texas Rangers only filled 19,000 seats.
If funding is approved, the stadium is expected to be complete for the Rays 2028 season opener.