The Tampa Bay Rays backed out of their $1.3 billion stadium deal with St. Petersburg on March 31, 2025. The move followed Hurricane Milton's devastation at Tropicana Field, which left behind $55 million in damage.
The combination of storm damage and escalating costs killed the deal.
"The city intends to honor our current commitment to repair Tropicana Field in accordance with the current use agreement," said Mayor Ken Welch in a statement to St. Pete Rising. "As for the future of baseball in our city — if in the coming months a new owner, who demonstrates a commitment to honoring their agreements and our community priorities, emerges — we will consider a partnership to keep baseball in St. Pete. But we will not put our city's progress on hold as we await a collaborative and community-focused baseball partner."
Officials are looking to recover the money spent on the failed project. The city has spent $2.4 million on consultants, studies, and legal fees since mid-2024. The county is now asking staff to seek reimbursement from the team.
