The Tampa Bay Rays’ ambitious plans for a $1.3 billion stadium in St. Petersburg, Florida, have hit a major snag following Hurricane Milton’s destruction of the Tropicana Field roof and delays in public bond approvals. What was once a centerpiece project in the $6.5 billion Historic Gas Plant Development District is now mired in uncertainty.
Project Suspended Amid Funding Delays
Team presidents Brian Auld and Matt Silverman announced that all work on the new stadium and the district development has been suspended after the Pinellas County Board of Commissioners twice delayed bond approvals. In a letter obtained by the Tampa Bay Times, the duo stated, “We informed our many architects, builders, and consultants that our agreement had not been honored by the county.”
The Rays had already invested $50 million in the project and had anticipated the ballpark would open in 2028. However, the commissioners’ October decision to pause public financing—citing uncertainties caused by the storm—has now jeopardized that timeline.
The Stakes of the Gas Plant District Development
The proposed stadium was to serve as the crown jewel of the Historic Gas Plant District, a redevelopment initiative aimed at revitalizing the St. Petersburg area. In July, Skanska, a leading construction company, secured the contract to oversee both the stadium and the larger district project. Despite their pivotal role, Skanska declined to comment on the Rays’ suspension of work.
Under the original agreement, the city of St. Petersburg committed $417.5 million to the project, including $287.5 million for the stadium. Pinellas County pledged $312.5 million from tourism revenue, while the Rays agreed to cover over half of the stadium’s costs and any potential overruns.
Hurricane Milton’s Ripple Effect
Hurricane Milton’s devastation added another layer of complexity. The storm ripped off Tropicana Field’s roof, leaving the city of St. Petersburg grappling with an estimated $55.7 million repair bill. Insurance would cover only a portion of the costs due to a $22 million deductible.
As repairs continue, the Rays have decided to play their 2025 season at George M. Steinbrenner Field in Tampa, the spring training facility for the New York Yankees.
Next Steps for the Project
The Pinellas County Board of Commissioners is set to revisit the bond issue on December 17. Auld and Silverman expressed their frustration in the letter, noting they had no reason to believe the October bond approval would face delays. Calling the decision a “formality” after July’s initial approval, they stressed its critical impact on the stadium’s timeline.
Should the bonds gain approval next month, the Rays may still have a path forward for the 2028 opening. Until then, uncertainty looms over one of the most ambitious redevelopment projects in the region’s history.
Stay tuned as updates unfold on this high-stakes project.
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