TAMPA — Hillsborough County commissioners voted 5-2 to approve a non-binding memorandum of understanding for a $2.3 billion Tampa Bay Rays ballpark on the site of Hillsborough College’s Dale Mabry campus, clearing the first major political hurdle for a project that would move the franchise across the bay and commit nearly $1 billion in public funds.
Under the framework outlined in the MOU, the Rays would privately finance $1.27 billion plus all construction cost overruns. The public contribution would be capped at $976 million — approximately $796 million from the county and $180 million from the city of Tampa. The Tampa City Council is scheduled to vote on the MOU on Thursday, and approval from all three parties would allow negotiations toward definitive agreements to proceed.
“We are grateful to the Hillsborough County Board of County Commissioners for its approval of the non-binding Memorandum of Understanding that authorizes staff to continue working with the Rays toward a definitive agreement that keeps this project, and Tampa Bay, moving forward,” Rays CEO Ken Babby said in a statement.
Also on Wednesday, the Hillsborough College Board of Trustees voted unanimously to approve a ground lease with the Rays for the area that would include the ballpark and a mixed-use district, along with a redeveloped campus for the college and its 46,000 students.
“Today’s unanimous vote by the Hillsborough College Board of Trustees to approve the ground lease with the Tampa Bay Rays unlocks the door for the college’s 46,000 students to access meaningful career pathways and real-world workforce opportunities with world-class organizations and businesses, while transforming the Dale Mabry campus with brand new, modern facilities,” Babby said.
Babby framed the project as extending well beyond baseball. “From the beginning, this project has been about much more than a ballpark,” he said, adding that the plan envisions a privately financed mixed-use neighborhood alongside the stadium and college redevelopment.
“Today’s affirmative vote is excellent news for our community, but it is only the first of several crucial steps this week to keep the project on track and ultimately make it all come to life,” Babby said.
The Rays have been aiming to open their new stadium in time for Opening Day in 2029. Their current use agreement at Tropicana Field in St. Petersburg expires after the 2028 season. The Tampa City Council vote Thursday represents the next critical step before the three parties can begin negotiating binding agreements.