Tampa Bay Rays Cancel New Stadium Plans After Local Government Stalls Funding
Pinellas County, Florida, and the St. Petersburg City Council recently voted to delay approving the sale of bonds to fund a new stadium for the Tampa Bay Rays, according to Fox 13. Had the funds been released, county and city taxpayers would have been on the hook for millions of dollars to house one of the least attended teams in the MLB.
In July, the city and county approved a $1.3 billion plan to build a new stadium for the team. The stadium, which would be a part of a larger $6.5 billion redevelopment project, would be financed by St. Petersburg ($417.5 million) and Pinellas County ($312.5 million), with the Rays covering the remaining portion. After Hurricane Milton last month shattered the roof of Tropicana Field, the Rays’ current home, the team moved to expedite public funding for the project.
On Tuesday, Pinellas County Commissioners voted for a second time to push back funding for the new stadium. Before the meeting, the Rays sent a letter stating that the first delayed funding vote in October pushed back the expected opening of the new stadium to 2029 (from 2028) and had increased costs to a point that the team would not be able to absorb itself. After voting to delay, the Rays sent another letter stating that they were suspending their plans for the stadium due to the decision. St. Petersburg’s city administrator expects the team to send an official termination letter to the city, according to the Tampa Bay Times.Â
Ron Diner, founder of “No Home Run,” an advocacy group against the stadium, told Reason that the letter that the Rays sent to the county commissioners before their funding vote played a large role in the decision to delay. Diner believes it turned the city and county against them because it signaled an intention to not follow up on their promise of paying for budget overruns.
If delays in the construction of the stadium were already causing the Rays to not make ends meet, further overruns in the cost, which are very common in large projects like this, would have been left to the county and the city to cover
Article from Reason.com
The Reason Magazine website is a go-to destination for libertarians seeking cogent analysis, investigative reporting, and thought-provoking commentary. Championing the principles of individual freedom, limited government, and free markets, the site offers a diverse range of articles, videos, and podcasts that challenge conventional wisdom and advocate for libertarian solutions. Whether you’re interested in politics, culture, or technology, Reason provides a unique lens that prioritizes liberty and rational discourse. It’s an essential resource for those who value critical thinking and nuanced debate in the pursuit of a freer society.
