The Tampa Bay Rays appear one step closer to identifying a location for a new stadium and related development, with an expected meeting Tuesday with the Hillsborough College District Board of Trustees to discuss a potential development at the school’s Dale Mabry campus, the Tampa Bay Business Journal first reported Thursday.
A deal with Hillsborough College, formerly Hillsborough Community College, would allow Rays ownership to develop a 110-acre mixed-use development, including a new stadium and a range of other community amenities. The Rays’ new owners have previously discussed a development that includes a mix of affordable housing, park space, retail, entertainment and more.
The meeting on Tuesday would be a first vote on a non-binding memorandum of understanding (MOU) on a potential stadium deal. The Hillsborough College administration has recommended approval.
It’s important to note that an MOU does not guarantee a project; it allows the parties to move forward with plans and terms for an eventual binding agreement.
It’s not clear at this early juncture what public subsidy the project would require, but the team’s new ownership group — Ken Babby, Patrick Zalupski and Bill Cosgrove — previously said one would be required.
Speaking in October shortly after the team’s sale was finalized, owners said, and have since reiterated, they are looking at Atlanta as a model for a successful stadium development. The Atlanta Braves play at Truist Park, located in the Battery district.
And Babby said this week on the newly launched “Hunks Talking Junk” podcast, hosted by College HUNKS Hauling Junk and Moving co-founder Nick Friedman, the group has set an aggressive timeline to open a new ballpark in April 2029.
The ownership group has long said its goal was to keep the Rays in the Tampa Bay region and has made clear its preference is for Tampa.
The Rays item is the only issue included on Tuesday’s Hillsborough College Board of Trustees meeting. It notes that the school “has been approached” by Rays’ leadership.
“The MOU does not require the College to do the Project, and it can be terminated by the Board at any time,” the agenda reads, noting that, if approved, the MOU would allow both parties to “begin negotiating and drafting Project agreements for the Board’s review and approval at a future meeting.”
The agenda also notes that “the Rays have included a proposal to reimburse the College for the costs of preparing the final Project agreements.”
