Tampa Bay Rays Not Expecting to Pick Up Tab for Stadium

Everyone knows that the Tampa Bay Rays have some financial issues, but a new stadium is expected to fix those concerns. Just don’t expect the Rays to foot most of the bill for a new ballpark.

The idea of the Tampa Bay Rays being big spenders is fairly laughable. The Rays are usually around the bottom few teams in payroll, spending their money on team friendly extensions for young players. Any free agents they sign are usually of the bargain variety, potential bounceback candidates such as Logan Morrison or Joel Peralta. Instead of their payroll, the Rays look to build a contender with smart trades and their farm system.

However, it is thought that such a philosophy could change one day. The Rays biggest stumbling block to increasing their payroll is their low attendance, at least according to conventional wisdom. Give the Rays a new stadium, in a far more accessible location, and they may actually be able to retain more of their stars, instead of trading them away.

Hope for such an outcome has reached a high point, with a proposed Ybor City location for the new stadium. Rays owner Stuart Sternberg is excited about the location, and cautiously optimistic that the new stadium will be constructed. Just don’t expect the Rays to pick up the majority of the tab.

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So, who would pay for this new stadium? Sternberg said that the Rays may cover only $150 Million of the projected $800 Million cost for the new stadium. Of course, as their projections change based on how much their own revenue would increase, that amount contributed could increase as well.

Even that $150 Million number is not set in stone for the low end. The Rays would want to see the community put forth a commitment to support the team. Specifically, Sternberg cited a 50% increase in season tickets and sponsorships to have that support be evident.

There were a list of other expectations, such as a roof of some sort and that the area government and business leaders would find the rest of the money. However, that same $150 Million was mentioned back in 2008 in the Rays first quest for a new ballpark. However, the people did not want a tax increase to build a new stadium for the Rays then, and it is highly unlikely that they would accept one now. The Rays may have found a spot they want the new stadium to be located at, but that new facility still seems far away.

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it is hoped that a new stadium will cure the Tampa Bay Rays financial ills. Just don’t expect the Rays to foot the majority of the bill.