Pinellas County Delays Rays Stadium Bonds

The Tampa Bay Rays' plans for a new stadium in St. Petersburg are in jeopardy after Pinellas County commissioners voted to delay issuing $312.5 million in bonds necessary for funding. This delay, stemming from concerns over budgetary impacts caused by recent hurricanes and a shift in the commission's stance post-election, could push the stadium's completion beyond the targeted 2028 season, resulting in significant cost overruns that the team cannot absorb. Rays co-presidents Brian Auld and Matt Silverman expressed their dismay in a letter to the county, citing over $50 million invested in the project and the risk of losing it all due to the county's failure to adhere to previously agreed terms. The situation is further complicated as the team has paused all work on the project and is considering relocation if the financing does not materialize. The Rays have emphasized that they were led to believe the bond approval was a mere formality following earlier agreements. This uncertainty continues amidst increasing skepticism from local officials regarding the project's viability.