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newsApr 25, 20261:24

Rays Push for May Vote on Stadium Deal

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The Tampa Bay Rays are expediting their stadium deal negotiations with Hillsborough County, aiming for a vote on their memorandum of understanding by May. The county, however, requests more time, ideally sixty to ninety days past June first, to finalize details. The Rays emphasize maintaining momentum to prevent construction delays, even if final agreements extend beyond June. The team has revised the MOU to clarify its non-binding, serving as a foundation for further discussions. The primary hurdle remains the $75 million shortfall, with the Rays disputing an additional $60 million gap, arguing its based on incorrect assumptions about taxable community investment tax bonds. Next week, meetings with county and city leaders are scheduled to advance negotiations, with both parties eager to reach an agreement on the timeline and funding for the new stadium.

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Rays Push for May Vote on Stadium Deal

Tampa Bay News Today | 2 Min News | The Daily News Now!

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Tampa Bay News Today | 2 Min News | The Daily News Now!Rays Push for May Vote on Stadium Deal. Machine-transcribed; use the interactive transcript above to jump the player to any line.

0:00The Tampa Bay Rays are pushing back quick on Hillsboro County's feedback about a new stadium deal. Just one day after the county's memo asking for more time, the team wants a vote on their memorandum of understanding by May to hit that 20. 29 Opening. The county figures they need 60 to 90 extra days past June 1st to nail down details. Meanwhile, the Rays stress keeping momentum to avoid delays in construction. They say even if final agreements slip past June 1st, wrap them up as soon as possible. The team also agreed to tweak the MOU language to make clear it's non-binding. Just a framework to build on. Reactions from both sides show they're still talking. Rays CEO Ken Babby called it, continued collaboration, focused on that 2029 ballpark in Tampa Bay. But money's the real snag. A $75 million shortfall needs fixing, and the Rays push back on an extra 60 million gap. They argue that gap comes from assuming community investment tax bonds would be taxable.

1:03Instead, structure financing right to keep them tax exempt, wiping out that extra head and just bridging the original gap. Next week, meetings with county and city leaders aim to push talks forward. Looks like both want to deal, just got to sync on the timeline and funds to make this stadium real. Local news, powered by AI, this is Tampa Bay News today.

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