The Tampa Bay Rays’ long-running pursuit of a new stadium reached a significant milestone this week, as the Hillsborough College District Board of Trustees unanimously approved a memorandum of understanding with the club for a proposed ballpark and mixed-use development.

The agreement advances a central objective of the Rays’ new ownership group, led by Jacksonville-based developer Patrick Zalupski, and outlines a framework for negotiating a formal redevelopment of Hillsborough College’s Dale Mabry Campus. The site sits near Raymond James Stadium, George M. Steinbrenner Field and Tampa International Airport.

While the memorandum is non-binding, it establishes a pathway toward a comprehensive deal that would include an MLB-calibre ballpark, a surrounding mixed-use district and new facilities for Hillsborough College.

“There’s still great work ahead of us to be able to bring this to reality,” Rays CEO Ken Babby said. “But what I can say with certainty is that we believe with conviction that we can create a world-class work-live-learn-play development here in Tampa Bay, and we’re very encouraged and pleased by [Tuesday’s] outcome.”

Zalupski, Babby and the Rays have been clear about their desire to replicate elements of The Battery, the Atlanta Braves’ highly successful development surrounding Truist Park. In Hillsborough College, they have identified a potential partner that would lease the majority of the Dale Mabry Campus to the club, while retaining a designated “College District” for students, faculty and staff.

“This has been a 30-year saga for the region,” Babby said. “While I joke that we’ve only been here for six weeks, we understand how much fatigue surrounds the future of the Tampa Bay Rays. We must find a forever home, and this is an encouraging first step.”

Several major components of the proposal remain unresolved, including final financing for the stadium. Even so, the Hillsborough College agreement represents further progress in the Rays’ effort to shift to the east side of Tampa Bay and leave Pinellas County, where the franchise has played since its inaugural 1998 season.

George M. Steinbrenner Field, the New York Yankees’ spring training home, served as the Rays’ temporary venue in 2025 while Tropicana Field underwent hurricane-related repairs. The St. Petersburg ballpark is scheduled to reopen for the 2026 season and will host the Rays until a new facility is completed. The club is targeting a 2029 opening, following the expiration of its lease at the city-owned Tropicana Field