It’s a beautiful day in Tampa Bay.
After decades of unknowns and threats to move, a new owner and a new future have finally secured the Rays a new home in the population center of Tampa.
The new stadium will be built across the street from Raymond James Stadium, home of the Tampa Bay Buccaneers, and will include a massive redevelopment project that will revitalize Hillsborough College and add a thriving neighborhood and stadium district to the city.
To fund the stadium, the Rays have committed to pay
$1.37 billion, plus cost overruns, while requesting $796 million from existing Hillsborough County tax sources — as approved today — plus $80 million from the City of Tampa, and $54 million from other public funding sources in the state.
The deal required a green light from the Tampa City Council, which was received yesterday. The $2.3 billion ballpark will be built on public land, which the Rays will then rent from the city for $4 million per season, with a 35-year lease that includes a non-relocation agreement.
Rays CEO Ken Babby, who has led the negotiations behind the scenes since Patrick Zalupski bought the Rays in October 2025, released the following statement:
“The Tampa Bay Rays enthusiastically thank and applaud the Hillsborough County Board of County Commissioners for making history. By virtue of its approval of a county investment in partnership with the Rays and the City of Tampa, today our entire region can celebrate the coming of a privately financed and mixed-use neighborhood, a reinvented Hillsborough College campus, and a new ballpark that secures the long-term future of Major League Baseball here in Tampa Bay.
With deep gratitude, we commend Hillsborough County Chair Ken Hagan and his fellow elected officials for their vision and support. We are also grateful to Dr. Ken Atwater, President of Hillsborough College, who has been an inspiration throughout this journey. We all have more work ahead, but there is no question our partnership will ensure a cohesive and successful process.
Above all, we now look forward to celebrating before breaking ground with Hillsborough County and the City of Tampa on a future that has long been doubted, but will indeed happen. By making the Forever Home a reality, the Rays are now home forever in Tampa Bay.”
The Rays plan to begin construction as soon as possible, with a goal of playing games in the new stadium for the 2029 season.
