The Tampa Bay Rays will not proceed with the development of a $1.3 billion baseball stadium in St. Petersburg, Florida, principal owner Stuart Sternberg said Thursday.
“After careful deliberation, we have concluded we cannot move forward with the new ballpark and development project at this moment,” Sternberg said in a statement. “A series of events beginning in October that no one could have anticipated led to this difficult decision.
“Our commitment to the vitality and success of the Rays organization is unwavering. We continue to focus on finding a ballpark solution that serves the best interests of our region, Major League Baseball, and our organization.”
The plan to build the stadium in the Historic Gas Plant District to replace outdated Tropicana Field was met with excitement last summer when the team and public officials announced the deal. Local government agencies had approved the sale of bonds to pay their share, but the Rays had until March 31 to meet specific conditions to gain public financing, including showing proof that they could meet their minimum $700 million obligation — not including cost overruns — toward the project.
Tropicana Field sustained significant damage in October due to Hurricane Milton, rendering the stadium unplayable in 2025. Instead, the Rays will use the New York Yankees‘ spring training site in Tampa as their home field this season.
Sternberg said Thursday that the City of St. Petersburg is advancing on plans to restore Tropicana Field for the 2026 season.
The Rays, who have played at Tropicana Field since their inaugural 1998 season, averaged 16,515 fans in 81 home games last season — third worst in Major League Baseball.
The Associated Press and Field Level Media contributed to this report.
