"The Rays’ days in the Tampa area could now be numbered as the MLB club said Thursday they are not moving forward with a plan to build a $1.3 billion ballpark in St. Petersburg, Fla.
The franchise had a March 31 deadline to meet certain obligations to release $600 million in public funds toward the planned stadium. The Rays, however, would be responsible for cost overruns beyond its $700 million contribution, and say that delays in the legislative approval of those public bonds introduced additional costs they cannot bear alone.
The city and Pinellas County refused to discuss supplemental funding, particularly in the wake of devastating hurricane damage to the area last year, and
insisted they had met their obligations in a ballpark deal
originally struck last summer.
As a result, the Rays said they are not proceeding with the ballpark and mixed-use development plan."
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The way I read this is: The Tampa Bay Rays had concerns about cost overruns beyond the 700M they were due to pay for the new stadium. The old stadium got hurricane damage, and I guess they wanted the public to pay to repair it. Seems like the city told them no. Now the Rays have de-committed to building the new stadium.
Maybe I'm interpreting it wrong, but it seems like more billionaire cheapskate stuff.