Against all odds the Tampa Bay Rays cement new stadium deal to stay in Florida

The Tampa Bay Rays won't be leaving Florida after all. After rampant speculation surrounding the Rays potentially packing up and relocating to another city, the team has reportedly finalized a deal that will keep them in the Sunshine State.

According to Marc Topkin of the Tampa Bay Times, the Rays will announce a new agreement on Tuesday to build a stadium in downtown St. Petersburg. The 30,000-seat ballpark will be constructed near the team's current stadium, Tropicana Field, and serve as the team's home stadium starting in the 2028 season.

The Rays' lease at Tropicana Field is set to end in 2027. In light of that news, some speculated that the Rays could move to Nashville or a handful of other cities outside of Florida. Now, it seems nearly certain that the Rays will not only be staying in-state, but their new stadium will only be a stone's throw away from Tropicana.

What we know so far about the renovated stadium is this: the stadium is expected to have a maximum capacity of 30,000 people, will have a fixed dome roof, and will feature artificial turf. It will be built in downtown St. Petersburg as part of the redevelopment of the city's Historic Gas Plant District.

Rays strike a deal to build new domed stadium in St. Petersburg

After a decade of looking for a new stadium to help boost attendance, the Rays have settled on a place not far from home, albeit the reported $1.2 billion cost of building the ballpark will make a decent dent in the Rays' wallet.

Rays owner Stuart Sternbeg said the team will likely pay for "half or more" of the stadium costs. To finance the project, the Rays plan to seek investors to contribute to the $600 million in exchange for shares in the team. As noted by the Tampa Bay Times, the rest of the bill will go to the city of St. Petersburg and Pinellas County.

The Rays' decision to build a new stadium stems from the franchise's hopes to increase revenue by flaunting a bigger, grander ballpark. Keeping the stadium in Florida will cement the loyalty of existing Rays fans, who are rightfully excited about the team's current AL East success. And a la the famous quote from "Field of Dreams", if the Rays build this new ballpark, more supporters will come.