Tag

Stadium Financing

All articles tagged with #stadium financing

sports1 month ago•16 min saved

Tampa Bay Rays secure $2.3B stadium deal after county and city approvals

The Tampa Bay Rays have secured approval for a $2.3 billion stadium project in Tampa after Hillsborough County and the city council voted to finance the deal. The new ballpark, set to open in 2029, will be located on the Hillsborough College Dale Mabry campus and is part of a larger mixed-use development. While the project locks in the team’s presence in the region through the 2060s, it has drawn mixed reactions from local stakeholders, with supporters citing long-term stability and critics questioning the taxpayer burden.

via AP News|

#hillsborough-county #ken-babby #major-league-baseball

sports-business1 month ago•6 min saved

Hillsborough County Finalizes $2.3B Rays Stadium Deal, Securing 2029 Opening

The Hillsborough County Commission approved the Tampa Bay Rays’ stadium proposal 5-2 on August 28, 2026, following a 4-3 vote by the Tampa City Council. This secures public funding for a $2.3 billion mixed-use development near Hillsborough College’s Dale Mabry campus, with a target opening in 2029. The deal resolves a decades-long saga, including a failed 2018 plan and a 2025 stadium collapse due to Hurricane Milton. New owner Patrick Zalupski pledged to keep the team in Tampa, and the agreement includes a 35-year non-relocation clause.

via MLB Trade Rumors|

#hillsborough-county #mlb-expansion #patrick-zalupski

sports1 month ago•3 min saved

Rays CEO Confident as Tampa Leaders Vote on $2.3B Stadium Deal

Tampa Bay Rays CEO Ken Babby expressed confidence that local elected officials will approve the financing for a new $2.3 billion stadium this week. The deal, which involves a 35-year lease and a mixed-use development, requires votes from the Tampa City Council and Hillsborough County Commission. Recent negotiations resulted in significant concessions from the Rays, including increased rent and a shift in funding structures, to address concerns raised by local leaders.

via Tampa Bay Times|

#hillsborough-county #ken-babby #public-infrastructure

sports-and-local-government1 month ago•1 min saved

Rays finalize $2.3B stadium deal with new loan structure ahead of Aug. 27-28 votes

The Tampa Bay Rays, City of Tampa, and Hillsborough County have reached a preliminary agreement on a $2.3 billion stadium project at the Hillsborough College site. The deal replaces the previous Community Investment Tax contribution with an $80 million city loan and a $100 million team loan, both repayable via property taxes from a surrounding mixed-use development. Votes are scheduled for August 27 and 28, though county commissioners remain skeptical about the city's funding reliability and land-use approvals.

via Tampa Bay Times|

#bill-carlson #city-of-tampa #hillsborough-county

local-government2 months ago•1 min saved

Rays Stadium Deal Faces Backlash as Two County Commissioners Threaten to Block $2.3B Project

Two Hillsborough County commissioners who previously supported a draft agreement for the Tampa Bay Rays' new stadium are now threatening to vote against the final deal. Commissioners Chris Boles and Christine Miller have raised concerns over the shifting financial structure, specifically the city's reliance on property tax revenues from a proposed mixed-use development. While the Rays have selected a construction firm and aim for a September groundbreaking, the lack of guaranteed revenue assurances and rapid negotiation timelines have created significant uncertainty for the $2.3 billion project.

via Tampa Bay Times|

#hillsborough-county #local-government #political-dispute

sports4 months ago•14 min saved

Bears press on with Soldier Field plan as Illinois incentive talks linger

The Chicago Bears will continue with their Soldier Field stadium timeline despite uncertainty over Illinois incentives, keeping the project on track while awaiting state financing decisions that could affect timing and scope.

via AP News|

#chicago-bears #illinois-incentives #nfl

local6 months ago•3 min saved

KC weighs $600M in city funds for downtown Royals stadium

Kansas City is considering a plan to fund a $1.9 billion downtown Royals stadium with up to $600 million in city bonds—paid for by new stadium-related economic activity taxes and existing sources—while Missouri could provide incentives up to half the cost. The venue would sit near Union Station and Washington Square Park, with a 30-year Royals lease and no public vote required. The proposal, endorsed by the mayor and most council members, advances to committee review before a full council vote, with rezoning and financing terms still to be resolved and mixed signals about Royals’ participation.

via KCUR|

#kansas-city #local #royals

local-news6 months ago•3 min saved

Kansas City Eyes $1.9B Royals Stadium Plan with City Funding and 30-Year Lease

Kansas City Mayor Quinton Lucas unveiled a $1.9 billion plan to build a new Royals stadium and surrounding infrastructure in downtown, proposing about $600 million in city funding with potential state support under Missouri’s law enabling up to 50% of major stadium costs; the plan would need City Council approval and a 30-year lease with the Royals starting in 2030, with construction hoped to begin in early 2027 and the venue ready for play a year before the lease starts. The Royals have not formally weighed in on terms, and there is no public vote included in the proposal.

via MLB Trade Rumors|

#downtown-kansas-city #kansas-city #local-news

local6 months ago•9 min saved

KC maps $1.9B downtown Royals stadium plan anchored at Washington Square Park

Kansas City officials unveiled a plan for a $1.9 billion, downtown Royals stadium at Washington Square Park, with the city contributing about $600 million and private funding making up the rest, aiming to open by 2030. The ordinance would authorize a 30-year term sheet and development agreement with the Royals, financed via bonds, Tax Increment Financing, and potential state incentives, plus an accompanying entertainment district. Approval hinges on park-board consent and city council votes, and while a public vote is not currently planned, the proposal could face political or public opposition; Royals’ backing remains undecided as talks continue.

via Kansas City Star|

#kansas-city #local #public-private-partnership

business7 months ago•13 min saved

Indiana signs framework to finance Bears stadium in Hammond

Indiana Gov. Mike Braun signed Senate Bill 27 to establish the financial framework for a Chicago Bears stadium in Hammond, including roughly $1 billion in state-bond financing repaid by revenues from Hammond’s 12% admissions tax and a stadium development district, plus proposed local taxes and a renegotiated toll-road lease. The Bears would invest over $2 billion; Illinois lawmakers are weighing incentives to keep the team, but no deal yet as competing measures and local concerns unfold.

via Chicago Tribune|

#bears #business #hammond

local7 months ago•17 min saved

Park District pitches $630M Soldier Field revamp amid Bears move talks

The Chicago Park District unveiled a $630 million plan to convert Soldier Field into a year‑round venue for concerts and major events, including sound upgrades and surrounding infrastructure improvements; the proposal would add to existing stadium debt funded in part by hotel‑tax revenue that has fallen short, as state lawmakers in Illinois and Indiana weigh Bears relocation options to Arlington Heights or other sites.

via Chicago Tribune|

#chicago-bears #chicago-park-district #hotel-tax-revenue

politics7 months ago•3 min saved

Indiana tax plan eyed to back Bears stadium financing in Hammond

A fiscal note for Senate Bill 27 shows Northwest Indiana could be taxed to fund a Chicago Bears stadium in Hammond, using bonds backed by new taxes (1% food-and-beverage in Lake and Porter counties, a Lake County hotel tax increase, and a Hammond admissions tax) plus potential toll-road lease proceeds; revenue estimates exist but total figures are uncertain as lawmakers mover toward a second reading.

via Indiana Capital Chronicle|

#bears-stadium #indiana #northwest-indiana

politics8 months ago•3 min saved

Illinois braces for cross-border Bears stadium bid as Indiana advances

Illinois lawmakers say there’s no deal yet as the Chicago Bears weigh a new stadium in Hammond, Indiana, where Indiana is moving forward with a bill to finance the project via bonds supported by an admission tax and an entertainment district. The Bears would invest about $2 billion, Indiana would contribute over $1 billion, and the stadium would be owned by a state authority. Governor Pritzker says progress is being made on an Illinois framework, but lawmakers warn the Illinois bill isn’t dead and tweaks may be needed. Indiana’s bill is expected to pass soon, while Illinois considers its own path; construction could start this year if a deal materializes. The proposed site near Wolf Lake sits roughly 20 miles from downtown Chicago and would require environmental and NFL approvals, keeping the plan in flux.

via Axios|

#arlington-heights #chicago-bears #illinois-politics

sports8 months ago•8 min saved

Bears eye Hammond site as Indiana advances stadium plan

Indiana lawmakers moved forward with a plan to bring the Chicago Bears’ stadium to Hammond by approving an amendment to Senate Bill 27 to create a Northwest Indiana Stadium Authority with bond and land-acquisition powers to finance the project near Wolf Lake, signaling momentum for a Hammond site as Bears officials voiced a vision and Illinois debated tax-incentive proposals for Arlington Heights.

via CBS News|

#chicago-bears #hammond-indiana #sb-27

business8 months ago•5 min saved

Tampa Bay Rays push for public-backed ballpark on college campus

Gov. Ron DeSantis, MLB Commissioner Rob Manfred and other officials voiced support for the Rays' plan to build a ballpark on Hillsborough College's Dale Mabry campus, but financing remains contentious as the team seeks public funds up to roughly $2.3 billion; Rays say they will cover at least 50% and rely on public sources like tourism taxes, sales taxes, and property taxes. Local leaders, including Mayor Castor, remain skeptical about using taxpayer money; a 180-day exclusive negotiation window has begun, with the target opening around 2029 and past financing efforts having stalled.

via Tampa Bay Times|

#business #desantis #manfred