ST. PETERSBURG -- Hillsborough County and the City of Tampa, Fla., have agreed to move forward in their negotiations with the Rays regarding a new ballpark in Tampa.
The Hillsborough County commission voted, 5-2, on Wednesday to approve a non-binding memorandum of understanding between the Rays and the county on a proposal for a $2.3 billion stadium on the site of Hillsborough College’s Dale Mabry campus.
After a lengthy, hourslong meeting on Thursday at Tampa’s Old City Hall, the Tampa City Council also moved to approve the MOU with a 4-3 vote.
While no deal has been finalized, the three sides can now move forward and continue negotiating toward definitive agreements.
“The Tampa City Council today sent a strong and positive message to our community by approving the non-binding Memorandum of Understanding and saying ‘yes’ to a Forever Home ballpark and the generational transformation for Tampa Bay that will follow,” Rays CEO Ken Babby said in a statement. “We appreciate the thoughtful engagement with City Council members and staff throughout this process, which from the start was focused on one common goal -- arrive at an agreement that is smart, fair and a win for everyone.
“With this step complete, the Rays now look forward to working with Hillsborough County and the City of Tampa as we move toward final agreements that will secure Major League Baseball in Tampa Bay for current and future generations.”
The team, county and city reached the preliminary agreement last week and celebrated the “transformational” opportunity last Friday.
According to the framework of the deal outlined in the MOU, the Rays would privately finance $1.27 billion plus all cost overruns during the construction of the ballpark, and the public contribution would be capped at $976 million: approximately $796 million from the county and $180 million from the city.
The Rays have been aiming to open their “Forever Home” stadium in time for Opening Day in 2029. Their use agreement at Tropicana Field expires after the ‘28 season.
“We are grateful to the Hillsborough County Board of County Commissioners for its approval of the non-binding Memorandum of Understanding that authorizes staff to continue working with the Rays toward a definitive agreement that keeps this project, and Tampa Bay, moving forward,” Babby said in a statement after the county’s vote on Wednesday. “The Rays believe deeply in the power of a new ballpark, a reinvented Hillsborough College, and a privately financed mixed-use neighborhood that will positively shape our region well into the future.
“Today’s affirmative vote is excellent news for our community, but it is only the first of several crucial steps this week to keep the project on track and ultimately make it all come to life. For that, we are indebted to the Hillsborough County Board of County Commissioners and its staff for their diligence and commitment to serving the best interests of Tampa Bay, and we look forward to continued negotiations in our mutual goal to deliver an agreement that is fair and beneficial to all.”
Also on Wednesday, the Hillsborough College Board of Trustees voted to approve a ground lease with the Rays for the area that would include a ballpark and a mixed-use district, including a redeveloped campus for Hillsborough College.
“From the beginning, this project has been about much more than a ballpark,” Babby said in a statement. “[The] unanimous vote by the Hillsborough College Board of Trustees to approve the ground lease with the Tampa Bay Rays unlocks the door for the college’s 46,000 students to access meaningful career pathways and real-world workforce opportunities with world-class organizations and businesses, while transforming the Dale Mabry campus with brand new, modern facilities.
“We are deeply grateful for the confidence and leadership of Dr. Atwater and the Hillsborough College Board of Trustees, and we look forward to continuing our partnership as we work together to deliver a project that will benefit students, fans, and the broader community for generations to come.”