There’s More MLB Relocation Talk, This Time With The Tampa Bay Rays
Relocation is a hot topic around Major League Baseball, and the Tampa Bay Rays are yet again a prime target.
Tampa Bay Times writer Marc Topkin spoke to team owner Stuart Sternberg last week about a wide range of topics, most notably the Rays stadium situation. Famously saddled with one of the worst stadiums in the league, Sternberg said he remains "highly optimistic" about getting a new stadium deal done in the Tampa Bay area.
But Sternberg also revealed the significant financial hurdles that they'll need to overcome in order to actually build a new stadium. While initially estimated to cost around $1 billion, Sternberg revealed that it would now take $1.2 billion to get a stadium built in St. Petersburg.
He also revealed that the Rays are willing to spend roughly half of the cost to build the stadium. How generous!
Of course, that also means there's another $600 million left to find to actually get construction financed. And team ownership is seeking investors to help, as well as negotiating to get public financial support.
If Sternberg isn't successful in raising the money, however, he's likely to sell the team. And selling the team means the Rays are soon to be out of Tampa.
TAMPA, FL - AUGUST 27: A general view of signage in the stadium prior to the game between the New York Yankees and the Tampa Bay Rays at Tropicana Field on Sunday, August 27, 2023 in Tampa, Florida. (Photo by Mike Carlson/MLB Photos via Getty Images)
Rays Already Fielding Offers To Sell
As the Rays attempt to raise money, many potential investors are asking about buying the team outright instead.
“More people are approaching us as a result of us being out there trying to raise money," Sternberg said in the interview. "And we’re not trying to raise a million dollars from somebody, we’re trying to raise hundreds of millions of dollars. And when you’re talking about people raising potentially hundreds of millions of dollars, they’re going, ‘Well, maybe we can buy the whole damn thing.’ So they take a run at you.”
“We’ve always maintained that it’s not for sale,” Sternberg said. Still, he tells interested parties, “if you want to make an offer, I always listen.”
If he's able to get the financing and agreement secured, the Rays will stay in town. But if not...Topkin said there's an expectation that selling to new owners would mean the franchise would leave after their lease expires in 2027.
“If I can’t get something done here, the best buyer will be somebody from somewhere else, and the team will be sold,” Sternberg said.
While the Tampa situation isn't quite as bad as Oakland, as the A's example shows, stadium deals are not easy to come by. And Tampa's loss could be another city's gain.
Relocation Questions Increase Across MLB
Nashville, Salt Lake City or Austin could all be candidates for relocation.
And with the Milwaukee Brewers also potentially on the way out, multiple cities could benefit from stadium issues elsewhere.
Even the Chicago White Sox could also be interested in moving.
Tampa is a prime candidate, however, where fan support has generally been nonexistent, regardless of how well the team's playing. After their inaugural season in 1998, the franchise has never ranked higher than 9th in the American League in attendance. And not higher than 13th out of 15 AL teams since 2011.
Given the success of the on-field product, even with severe financial limitations, that's unacceptable. A new start in a new city with a new stadium may fit the Rays better than any other franchise. Given Sternberg's blunt assessment, that may be more possible than ever before.