Rays owner Stuart Sternberg spoke with Marc Topkin of the Tampa Bay Times on Wednesday from this week’s owners meetings. He made clear that he is not having any conversations about selling the franchise amidst their stadium uncertainty.
“If it was (for sale), people would know it,” Sternberg said. “I’ve always been, and I will continue to be, pretty transparent about our intentions. And pretty — not pretty — but very honest about them. And I have been.”
The Rays need to decide in the coming weeks whether to move on plans to build a new stadium in St. Petersburg. Last summer, the Rays had reached a tentative agreement with the city and Pinellas County to construct a new $1.3 billion stadium by the 2028 season. That was delayed following the hurricanes in the Tampa area last fall. The County postponed approval on $312.5MM in public funding on the project. The County voted to approve the bonds in mid-December, but the Rays had already expressed frustration with the delay.
The agreement leaves the team responsible for cost overruns in construction. The Rays have claimed the delayed bond approval makes it impossible to have the stadium ready until 2029. A county official said in December that the Rays had put the estimated price hike around $200MM; Topkin wrote yesterday that the overruns are expected to be close to $150MM. In either case, the team said in December it “cannot absorb this increase alone” and wanted to renegotiate with the city and county to “solve this funding gap together.” Local officials have stated that they will not commit more public money.
The Rays have until March 31 to meet various construction benchmarks. If they have not done so, the agreement is nullified. Sternberg did not provide a specific timeline on when the team will make its final decision. “I’m not saying a decision or this or that, but I’ll be prepared coming out of this (meeting) and speaking to owners here,” he told Topkin. “There’s a lot that goes into it. … I don’t know what the rush is for anybody, or for us. If this is, in fact, a multi-generational decision, I don’t think anyone will care if it’s a date in January, February or March.”
Topkin spoke with MLB commissioner Rob Manfred about the situation on Thursday. As he has on multiple occasions, Manfred made clear that the league does not want to see the team relocate. “We’d like to keep the franchise in Tampa Bay. We think the market is big enough and that there is passion for the game. Having said that, it is challenging,” Manfred said.
Whether they move forward with their long-term stadium plans, the Rays also need to figure something out for the next few seasons. They’ll play at Tampa’s George M. Steinbrenner Field for the 2025 season because Hurricane Milton destroyed the Tropicana Field roof. The Rays’ lease at the Trop had run through 2027, but it’ll roll over through the ’28 campaign since it isn’t in use this year.
Responsibility for the Trop repairs falls on the City of St. Petersburg. That comes with an estimated $55.7MM cost. It’s unclear whether the stadium can be fixed in time for Opening Day 2026. Sternberg and Manfred each said there are no current plans for where the Rays would begin the ’26 season if the Trop is not done. “I remain committed to the idea (that) we’ve got to get the Trop fixed, because we have an interim period beyond 2025 that we have to cover no matter what,” Manfred said to Topkin. “I think Stu is on board with that idea that we need to get it fixed as quickly as possible. Unfortunately, we have a ton of uncertainty in terms of ’how fast can you get it fixed?’“