Just as the Rays are nearing a stadium deal that would ensure that the MLB franchise remains in the Tampa area, the club’s NFL neighbor could soon jump the line in terms of receiving local taxpayer support.
The Buccaneers are expected to pursue a large-scale renovation of Raymond James Stadium, the team’s current and publicly owned home, costing between $700 million and $1.3 billion. An initial framework under discussion points to public money covering about two-thirds of that cost.
That directly intersects with the Rays’ potential stadium deal, as those two projects could be drawing from the same Community Investment Tax that is a core part of the financial model being developed by the MLB club for its ballpark project. The Rays are seeking $976 million in public funds, with nearly half of that taxpayer outlay coming from CIT receipts.
“I think most of us have talked to the Buccaneers at this point, and we’re going to be writing a very large check in the very near future for Raymond James Stadium,” said Tampa Sports Authority board member Tony Muniz at a meeting of the body that operates the 28-year-old stadium. “And that’s our priority. We have to always remember that. I think we need to take care of Raymond James before we go out and try to convince the Rays to stay in Tampa Bay.”
