On December 17, the Pinellas County Commission voted 5-2 to approve the financing for its portion of the new Tampa Bay Rays stadium deal.

Pressure works – A “yes” vote despite earlier opposition

Commissioner Chris Latvala, who had previously voted against the stadium deal, stated that he supported the bonds because he trusts Major League Baseball Commissioner Rob Manfred. Manfred had several rounds of phone conversations with Pinellas County commissioners and St. Petersburg city officials as the vote approached. Latvala has called for Rays owner Stu Sternberg to sell the team, especially after the Rays announced several weeks ago that they were unsure how they would finance their share of the stadium costs.

There is hope that now, with both the county and city aligned, especially since the St. Petersburg City Council approved its bonds two weeks ago, the Rays will be forced to build a stadium in St. Pete or find investors who can make it happen.

Latvala issued a statement, saying: “Although I don’t trust the Rays’ owner, I trust Manfred. It’s because of him that I’m voting ‘yes’. MLB is aware of several instances where the Rays organization intentionally tried to sabotage an agreement they themselves had signed. As a result of this vote, I hope the Rays finally get an owner worthy of our other great local teams. The Rays fans deserve their own Vinik, Steinbrenner, Glazer, or Middleton—someone who cares about the fans and the community as much as they care about their own interests.”

© CityofStPete (cc: by-nc) | Tropicana Field, where Rays played before arrival of Hurricane Milton

Tampa Bay reaffirms it can’t fund the project

The responsibility now falls on the Rays to finance the stadium, as they agreed to cover any cost overruns in the deal signed last summer. The Rays have stated that delays in the bond votes have led to cost increases and that the stadium cannot be completed before 2029—one year later than originally planned. Shortly after the vote results were announced, Tampa Bay released a statement emphasizing that the team could not cover the construction costs alone. They also expressed a willingness to work with the county and city to find a solution to the funding shortfall.

In response to these remarks, during a post-vote press conference, county commissioners stated that they had offered the team the best possible deal. St. Petersburg Mayor Ken Welch issued a statement, noting that the city would continue working on repairs to Tropicana Field to fulfill existing commitments and would engage in talks with the Rays and other stakeholders to further the project.

© R24kBerg Photos | Tropicana Field, where Rays played before arrival of Hurricane Milton 

New information from the club

The Rays provided the county with a memo disclosing several new details as part of their efforts to finalize the agreement. The team informed the county that it had met the requirements to secure a $100 million loan from MLB. The memo also indicated that evidence had been presented showing over $10 million spent on the project, despite previous reports of expenditures exceeding $50 million. Additionally, the memo stated that at least half of the project had been presented to city officials. Last summer, commissioners agreed to a three-party financing model with Tampa Bay and St. Petersburg, which includes the redevelopment of the area around Tropicana Field, the construction of a new stadium, and a commercial and residential district.

To meet their $312.5 million commitment, county commissioners approved an item regarding the resolution for additional revenue bonds during Tuesday's meeting. The vote on the bonds had been delayed twice before, and there were initial indications that the scheduled vote on December 17 might also fail. Ultimately, it did not.