Tampa Sports Authority

The non-binding memorandum of understanding drops the public money involved to $976 million. The deal must be voted on next week by the Hillsborough County Commission and Tampa City Council.

About $150 million sought to rebuild Hillsborough College isn't in the first spending offers. Budget committee Chair Ed Hooper, R-Clearwater, says the state won't act until stadium financing is complete.

Presentations from the team and city staff are slated on how Tampa can cover a proposed $251 million share of the project's financing through a CRA and the Community Investment Tax.

The team said it remains committed to a 2029 opening but pushed back on Hillsborough officials' requests for stronger financial guarantees and earlier private funding disclosures.

Commissioner Ken Hagan tells WDAE existing restricted revenues can fund most of the county's share, but critics of the plan say taxpayers are still exposed through reserves and emergency dollars.

The proposal comes after weeks of negotiations with local officials but has not been vetted by public boards. It lays out ambitious economic projections to recoup the upfront investment.

Discussions about needs and costs come as the NFL team nears a 2027 decision on extending its lease, and the Rays are seeking about $1.15 billion in public money for a new ballpark across the street.