Rays plan to have a new stadium by 2029

The Tampa Bay Rays plan to open the 2029 season in a new stadium surrounded by a massive mixed-use development. 

Patrick Zalupski addressed the elephant in the room less than two minutes into his introductory press conference Tuesday. The team’s new majority owner also acknowledged that having a “world-class ballpark” ready by March 2029 is “aggressive, and perhaps audacious.” 

Zalupski said securing a “new forever home” is critical to keeping the Rays in Tampa Bay. The fixed-roof stadium would anchor a “best-in-class” development, likely encompassing at least 100 acres, with hotels, office space, shops, restaurants, bars and a music venue,” and “time is of the essence.” 

“We are also determined, and pledge to you, to build a championship-caliber team,” Zalupski said. “We believe this development will generate the revenue needed for long-term, sustainable success. To be clear, it is our first and highest priority to find that home here in Tampa Bay.

“We understand the history and how important it is to get it right for the fans, our employees, the entire Tampa Bay region and Major League Baseball.” 

Zalupski, founder and CEO of Jacksonville-based home builder Dream Finders Inc., said the stadium-anchored development would create jobs, support economic growth and provide opportunities in the region for “generations to come.” Those comments will sound familiar to anyone who has lived in Tampa Bay for the past 15 years. 

The new ownership group agreed not to discuss a new stadium with government officials on both sides of the bay until the sale closed Sept. 30. Zalupski said they are now “full-steam ahead on site evaluation.” 

A 100-acre minimum would seemingly limit their local options. The frequently floated Hillsborough Community College (HCC) Dale Mabry campus sits on 108 acres near Raymond James Stadium and Steinbrenner Field, which hosted the press conference.

Zalupski’s description of an ideal development seemingly also aligns with the latest Tropicana Field site proposal. ARK Investment Management, Ellison Development and Horus Construction unveiled a $6.8 billion plan to transform 95.5 acres into a “world-class epicenter of innovation, culture and community” Oct. 3. 

Rays CEO Ken Babby said the new owners are still “digesting” the proposal. He said they are “energized and encouraged by any development that’s happening in the region.” 

“We’re familiar with the folks who have put that together,” Babby added. “We’ll have a chance to sit down and understand that proposal and, obviously, work alongside our partners at the city and understand what that means.” 

The Rays released a group of limited local partners who have joined the ownership group. Sidd Pagidipati, co-founder of Tampa-based Ellison Development, is on the list. 

Zalupski would not say if he preferred the Rays to call Tampa, as expected, or St. Petersburg home. He stressed the importance of acquiring as much land as possible in a centrally located area. 

Zalupski, Babby and Rays co-chairman Bill Cosgrove all expressed their commitment to winning games and titles. They will focus on business, fan experience and community operations, and leave on-field decisions to Erik Neander, current president of baseball operations, and manager Kevin Cash. 

“This moment is not just about ownership, it’s about stewardship,” Zalupski said. “We recognize the deep responsibility we now carry to deliver a championship-caliber team on the field and a world-class experience for our fans.” 

St. Petersburg

Babby called St. Petersburg a home away from home when his father served as general counsel for the Baltimore Orioles. He enjoyed a stint as the team’s batboy during spring training at Al Lang Stadium. 

“I had the chance to go back this past Saturday night and watch the (Tampa Bay) Rowdies win four-nothing in our first game owning the team,” Babby added. “It was fun to be back there.” 

He credited Mayor Ken Welch’s administration for their “incredible work” getting a storm-damaged Trop ready for opening day 2026. Babby said his group would also do its part to upgrade the much-maligned stadium. 

Planned improvements include unique fan experiences, new video boards and a new sound system. “I think Tropicana Field is going to look better than it has ever looked in April,” Babby said. 

“We’re spending a lot of time together thinking about how we can enhance that experience, because we are going to be there despite our objective of being in a new ballpark in ‘29.” 

Babby called the city’s effort to repair the Trop “heroic,” considering the community is still recovering from Hurricanes Helene and Milton. However, he said it was premature to discuss extending a lease that ends after the 2028 baseball season. 

“We’ve got a lot of work ahead of us,” Zalupski said. “We’re going to have meetings this week with St. Pete, with Tampa, and really just getting our bearings. We’ve got to deliver this world-class development; generate the revenue to produce a consistent, championship-caliber team.”

The new ownership group credited former owner Stuart Sternberg and his staff for building a franchise known for its innovation and success.