Tampa revises funding plan for Rays' new $2.3 billion stadium

Tampa is shifting to a tax-increment financing model for the Tampa Bay Rays' proposed $2.3 billion ballpark. This change aims to generate revenue from the mixed-use development surrounding the stadium rather than traditional public funding sources. The revised plan is intended to bolster political support, crucial amid ongoing negotiations between the city and the Rays as they strive to meet a timeline for a 2029 opening. The total public contribution is capped at $976 million, with the Rays responsible for additional costs. Final approvals are necessary within weeks to move toward groundbreaking later this year.

• 7:46 PMYahoo Sports — Tampa Overhauls Rays $2.3B Stadium Funding As Clock Ticks