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Closing Bell

St. Pete restarts bidding for Tropicana Field project

St. Petersburg Mayor Ken Welch is "scrapping the bid process initiated by his predecessor [Richard Kriseman] that resulted in two groups competing for the rights to redevelop" the Rays' Tropicana Field. Welch will seek "new bids in the next four to five weeks with the aim of selecting a redevelopment group by the end of the year." Bidders will be "asked to include plans" for a new ballpark, though the team "continues to evaluate it options for where to play home games" when its current lease expires in '27 (TAMPA BAY TIMES, 6/29). Mayor Welch today said, “I don't believe waiting a few months to get this right is unreasonable. ... St. Petersburg is the best opportunity for the Rays. It's about making sure we've got the right plan for where we are in 2022" (AP, 6/29).

Meanwhile, a group of Rays minority owners has filed a third lawsuit against majority Owner Stu Sternberg, alleging their ownership "has been reduced to a mere shell, with no revenues from baseball-related operations, no cash flow, and no responsibilities of the management of the Rays team and franchise to the Limited Partners." The new lawsuit "includes claims of fraud and a violation of Florida’s Unfair and Deceptive Trade Practices Act." The Rays declined comment. The group owns about 9.6% of the team (THEATHLETIC.com, 6/29).

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