ST. PETERSBURG — Tropicana Field is in limbo and its future is again uncertain after Rays owner Stu Sternberg backed out of the deal to build a new ballpark.
“Everyone I know in the sports economic world is like, ‘Really! He turned down a billion dollars in subsidies? Ok then,” said author Neil deMuse.
DeMuse has spent decades writing about stadium deals across the country.
His book and website are called Field of Schemes.
He said the city has some leverage when it comes to repairing the Trop because there is no strict deadline when the work has to be finished.
It’s estimated fixing Tropicana Field will cost at least $56 million.
“The part that the Rays has over the city is that as long as Tropicana Field is unplayable the lease keeps getting extended,” said deMuse.
As of now, that lease is set to end in 2028, but delays in repairs could extend it to 2029 or beyond.
“At that point you don’t get the development rights back for the land until the lease ends,” said deMuse.
St. Petersburg Mayor Ken Welch wouldn’t into details about how the city might be able to get away with not repairing Tropicana Field, but they are talking about it.
“We’ve had coucil members say we’d like to hear what are the alternatives to repairing the Trop. So, we’ve had those conversations,” Welch said.
Mark Rosentraub is a profesor at the University of Michigan and led a research project studying the Tampa Bay market for the Tampa Bay Lightning.
“Obviously when you are looking at one team you are looking at implications for the other team,” Rosentraub said.
Rosentraub teaches a class on real estate development in sports.
One focus is on how many teams a market like Tampa can support.
He said that in a smaller market there needs to be a more regional approach to financing, instead of putting it all on Pinellas County.
“I never saw it possible. I loved the design. It will be when it's built, a spectacular stadium. But the way it was financed was not going to work,” Rosentraub said.
City leaders say as of now they are still on track for Tropicana Field to be ready for opening day next season.
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