Tampa Bay Rays ownership has yet to decide whether it will proceed with the development of a $1.3 billion baseball stadium in St. Petersburg, Florida, principal owner Stuart Sternberg said.

The plan to build the stadium in the Historic Gas Plant District to replace outdated Tropicana Field was met with excitement last summer when the team and public officials announced the deal. Despite local government agencies approving the sale of bonds to pay their share, the stadium plans remain up in the air, apparently over delays that likely would cost the Rays millions of dollars.

The team has until March 31 to meet specific conditions to gain public financing, including showing proof that the Rays can meet their minimum $700 million obligation toward the project. The team is responsible for that amount, plus any cost overruns -- and the latter appears to be the sticking point.

The project already is behind schedule, with construction initially set to begin this winter in time for a 2028 opening.

"We'll decide how we want to proceed at that point, well before that point," Sternberg told the Tampa Bay Times on Monday of the upcoming deadline. "We have to make a decision, so we'll have something by then."

If the team doesn't meet the deadline, the public financing portion of the deal could collapse.

These were the first public comments by Sternberg this year. In a letter sent to the Pinellas County board of commissioners last fall, the team said delays meant the 30,000-seat ballpark wouldn't be ready for the start of the 2028 season, and that a 2029 opening would be too costly.

The lack of commitment from Sternberg left at least one public official frustrated.

"Sell the team," Pinellas County commissioner Chris Latvala posted to X on Monday.

This is just the latest stadium problem for the Rays, who averaged 16,515 fans in 81 home games last season -- third worst in Major League Baseball.

Tropicana Field sustained significant damage in October due to Hurricane Milton, rendering the stadium unplayable in 2025. Instead, the Rays will use the New York Yankees' spring training site in Tampa as their home field this season.

The Rays have played at Tropicana Field since 1998, their inaugural season.