Tampa Bay Rays Push Ahead With $2.36B Multi-Use Stadium

The Tampa Bay Rays have cleared two major government approvals for a proposed $2.36 billion stadium in Tampa, moving the project closer to construction while advancing plans for a venue designed to host concerts and other large events in addition to baseball.

The Hillsborough County Commission voted 5-2 on August 28 to approve a development and funding agreement for the stadium. The vote came one day after Tampa City Council approved its portion of the deal by a 4-3 margin.

The Rays are targeting a 2029 opening for the fixed-roof stadium, which is expected to have at least 28,000 seats for baseball and a capacity of roughly 30,000 for some other events.

“The Tampa Bay Rays enthusiastically thank and applaud the Hillsborough County Board of County Commissioners for making history,” Rays CEO Ken Babby said following the county vote.

The project is intended to serve as more than a Major League Baseball venue. The Rays have said the building will be able to accommodate major concerts, touring productions, wrestling, volleyball, graduations and other large gatherings.

The team released renderings in July showing several possible non-baseball configurations, including a concert setup. Rays officials said the stadium could become the largest indoor event facility in the Tampa Bay region and one of the largest in Florida.

“We have said from the beginning that our new ballpark is about more than baseball,” Babby said when those plans were released.

Babby said the goal is for the stadium to remain active throughout the year instead of operating primarily around the Rays’ 81 regular-season home games.

“With 81 Rays games plus special events, the Forever Home will be active and generating economic value throughout the year,” Babby said. “In short, we feel it can be one of the busiest venues in sports, entertainment and events.”

The stadium is planned for Hillsborough College’s Dale Mabry campus, near Raymond James Stadium and George M. Steinbrenner Field. The location would add another large live-event venue to an area that already includes several major sports and entertainment facilities.

Under the current financing plan, Hillsborough County is expected to contribute up to $796 million toward the project, while Tampa has approved an $80 million contribution. The Rays are expected to invest approximately $1.37 billion and cover construction cost overruns.

The fixed-roof stadium is expected to be owned by Hillsborough County, with the Rays paying $4 million annually in rent. The initial use agreement is expected to run for 35 years and include a non-relocation provision.

The ballpark would also anchor a broader redevelopment of the Hillsborough College campus that includes residential, commercial, educational and entertainment components.

Several steps remain before major construction can begin, including completion of additional agreements and bond and funding validation.

Rays managing partner Patrick Zalupski acknowledged that work remains following the approvals.

“We recognize there is still important work ahead, and we look forward to continued collaboration to deliver on the promise of this transformational project,” Zalupski said.

If the current schedule holds, the Rays would move into the new stadium after their Tropicana Field agreement expires following the 2028 season.

The team has played at Tropicana Field since its inaugural 1998 season, aside from a temporary move to George M. Steinbrenner Field in 2025 after hurricane damage forced the club out of the St. Petersburg venue.

The new stadium would give the Rays a long-term home while adding an approximately 30,000-seat indoor facility to Tampa Bay’s concert and live-event market.