Rays’ Future in Jeopardy as Stadium Deal Hangs in Balance

ST. PETERSBURG, Fla. — The Tampa Bay Rays face an uncertain future as their stadium deal teeters on the brink of collapse. Hurricane Milton, which struck on Oct. 9, 2024, severely damaged Tropicana Field, leaving the team without a home for the 2025 season and jeopardizing plans for a new $1.3 billion stadium.

Owner Stuart Sternberg, who has led the Rays since 2005, is at a crossroads. The team must secure funding and finalize design plans by March 31 to meet Pinellas County’s bond issuance requirements. However, Sternberg’s request for additional public funds to cover potential cost overruns has strained relations with local officials.

“A 2029 delivery would result in significantly higher costs that we are not able to absorb alone,” the Rays stated in a Nov. 19 letter to county commissioners. Sternberg added, “The future of baseball in Tampa Bay became less certain after that vote.”

Commissioner Rob Manfred has emphasized his commitment to keeping the Rays in the Tampa Bay area. “My goal is to make baseball work in the Tampa Bay region,” Manfred told The Athletic. However, the league’s patience may be wearing thin. Unlike the Oakland A’s relocation to Las Vegas, which Manfred supported, the Rays’ situation is complicated by the region’s growth potential and the team’s strong performance under Sternberg.

The Rays have been one of baseball’s most successful franchises in recent years, ranking sixth in wins since Sternberg took over. They’ve reached the World Series twice (2008 and 2020) and pioneered innovative strategies despite consistently low payrolls and attendance. Yet, their quest for a new stadium has dragged on for 17 years, with Hurricane Milton further complicating matters.

The team is temporarily relocating to George M. Steinbrenner Field in Tampa for the 2025 season, but the move raises questions about their long-term viability in St. Petersburg. Some officials, including Pinellas County Commissioner Chris Latvala, have expressed distrust of Sternberg. “While I do not trust the owner of the Rays, I trust Mr. Manfred,” Latvala said after a crucial vote on Dec. 17.

Meanwhile, the damage to Tropicana Field has disrupted more than just baseball. The venue hosts over 60 events annually, including graduations, trade shows, and concerts, generating significant tourism revenue. The Gasparilla Classic, a major gymnastics meet, and the Savannah Bananas baseball stunt team have already relocated, taking millions in economic impact with them.

“There’s definitely been some impacts from that standpoint,” said Craig Campbell of Visit St. Petersburg-Clearwater. The Rays have pledged $700 million toward the new stadium but have not specified how much more they need. Sternberg’s aggressive stance has alienated some local leaders, further complicating negotiations.

If Sternberg cannot secure a deal, selling the team to a Tampa-based ownership group may be the best solution. Potential buyers exist, according to sources, but Sternberg’s asking price remains a hurdle. Forbes valued the Rays at $1.25 billion in March 2024, the fourth-lowest in MLB.

As the clock ticks, the Rays’ future hangs in the balance. Whether Sternberg can salvage the stadium deal or sell to a group better positioned to secure a Tampa ballpark will determine the fate of baseball in the Tampa Bay region.