At 28 years old, Raymond James Stadium is arguably near retirement age in the world of big-league sports palaces. And the Tampa Bay Buccaneers have made little secret about the need to modernize their 65,000-seat home field.
With the NFL team approaching a 2027 decision on extending its lease – and the Tampa Bay Rays also seeking about $1.15 billion in public money for a new ballpark across the street – the Bucs determined it was time to begin discussing stadium renovations, how much they will cost and who’s going to pay for them.
The team plans to sit down with the Tampa Sports Authority next week to get the ball rolling, according to the Tampa Bay Times.
While there are no specifics on what may be in the team’s plans, the Times reported the price will be “significant,” according to discussion at Tuesday’s sports authority board meeting.
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Industry experts have pitched as much as $1 billion based on other current stadium projects.
New stadiums in Nashville and Buffalo, both private-public projects, will cost about $2.1 billion, with both teams seeking about $1.2 billion in public money. The Jacksonville Jaguars will temporarily move their 2027 home games to Orlando during a $1.4 billion renovation of EverBank Stadium, with about $800 million from taxpayers.
“We’re always looking at ways to improve the stadium, looking across the league and seeing what everybody’s doing,” said Bucs owner/co-chairman Joel Glazer last month at the NFL owners meetings in Phoenix. “Obviously, as the stadium gets older, there’s things that will be required. That’s something that we’re looking at.”
The NFL has implied a modernized facility would be required to help attract major events such as Super Bowls.
Also, that Bucs have floated the concept of building a multiuse development in a stadium lot next to their practice facility on the east side of Himes Avenue.
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To make that commitment, the Bucs would need to extend their lease, which runs through Jan. 31, 2028. The team must notify the sports authority by Jan. 31, 2027, if it intends to activate the first of four five-year extension options, according to agency documents.
The first extension would double the annual rent to $7 million, but it would also trigger the other options, tying the team to the facility through 2048.
The last major upgrade about 10 years ago cost about $160 million. Public money covered $29 million of that project, and the team paid for the rest.
