Rays stadium deal: What's next for the team after Pinellas, St. Pete leaders approve bonds?

Questions swirl about future of Tampa Bay Rays

Evan Axelbank reports

ST. PETERSBURG, Fla. - Hours after his vote helped send $312 million to the Tampa Bay Rays, Pinellas County Commissioner Chris Latvala posted a picture of a model of Tropicana Field as a symbol of stability.

"I would put the possibility of baseball ever leaving this market at pretty close to nil," he said in an interview with FOX 13.

Latvala said he trusts the MLB commissioner, who told county officials in private meetings that the league has no appetite to move the Rays. But minutes after the vote, the team issued a statement, which highlighted the only remaining question mark.

"The cost of the project has increased significantly, and we can not absorb the cost alone," the statement said.

Latvala responded on Wednesday.

"If you can't afford it at this point, I think there's only one move for you to make and that's to sell the team," the Pinellas commissioner said.

Officials have pointed out the deal calls for the team to pay for anything above the $600 million the city and county have provided.

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"I don't believe there's one commissioner on this board that would be entertaining renegotiating if they're asking for more money," Pinellas County Board Chair Kathleen Peters said immediately following Tuesday night's vote.

Her comments echoed those of St. Pete Mayor Ken Welch from several weeks ago, which came immediately following the city council's approval of their own bonds package.

"If there are shortcomings on the Rays side, they will need to make that up," said Welch. "We think there are a number of ways they can do that."

It's unclear as to what Stu Sternberg, the owner of the Rays, plans next. The team blames increased costs on the two-month delay in bond approvals, which they said forced their contractors to make a full stop.

READ: Rays stadium deal: MLB commissioner gets involved in stadium talks, meets with Pinellas County officials

Thus, in their framing, the new stadium can't be ready until 2029.

Plus, they said their revenue is being crushed by not being in Tropicana Field, which is why the city is now moving to fix it.

"I don't know how to be more clear," Auld said when the city of St. Pete first delayed a bond vote. "We have a very challenging future ahead of us."

The mistrust between the two sides is palpable. While the team says, "We remain ready to solve this funding gap together," commissioners asked one stadium expert about the size of the shortfall.

MORE: Tampa Bay Rays continue blaming county for ‘falling short’ as the new stadium saga continues

"Have you ever seen a 30-day delay result in a cost overrun that would be in $100 million or $200 million range?" asked Commissioner Latvala.

"No," came the response.

No one will go beyond speculation as to whether Sternberg is considering the possibility of finding investors to bridge the gap he said he faces. The Rays did say on Tuesday they have met requirements to receive a $100 million loan from Major League Baseball for stadium construction.

They have until March 31 to satisfy 13 aspects of the deal in order to receive the bond money. If they don't, the deal would evaporate, as would their control of the land around the new stadium.

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