Tampa Bay Rays Reportedly Expected to Announce Blockbuster New Stadium Deal

According to the Tampa Bay Times, the Rays are set to announce official plans for a new stadium in downtown St. Petersburg on Tuesday.

The Tampa Bay Rays are expected to announce the completion of a deal for a new stadium on Tuesday, the Tampa Bay Times' Marc Topkin reported Monday morning.

The stadium would be built in the Historic Gas Plant District of downtown St. Petersburg, right near Tropicana Field, which has been the Rays' home since they joined MLB as an expansion team in 1998.

Like Tropicana Field, the new stadium would feature a fixed dome roof and an artificial turf field. The new capacity of roughly 30,000 would technically be a significant dropoff from the Trop's 42,735, but the functional capacity of their current stadium is actually closer to 25,000 as a result of all the tarp-covered seats.

Per Topkin, the project is expected to cost $1.2 billion. The team, the city of St. Petersburg and Pinellas County would contribute funding for the stadium.

Rays owner Stuart Sternberg told the Tampa Bay Times earlier this month that the team expects to pay for at least half of the pricetag. He also disclosed that the team was attempting to secure $600 million from outside investors in exchange for shares in the team.

The Rays have been searching for a new stadium since 2007, as Tropicana Field has long been among the league's lowest-rated ballparks by fans, players and media members alike. Rumored options over the years included multiple sites in and around Tampa, spending half the season in Montreal and relocating to Nashville or Las Vegas.

With their 30-year lease at Tropicana Field running out in 2027, the Rays are expected to move into their new home in time for the 2028 season.

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