The Tampa Bay Rays will not proceed with the development of a $1.3 billion baseball stadium in St. Petersburg, Florida, principal owner Stuart Sternberg said Thursday.
"After careful deliberation, we have concluded we cannot move forward with the new ballpark and development project at this moment," Sternberg said in a statement. "A series of events beginning in October that no one could have anticipated led to this difficult decision.
"Our commitment to the vitality and success of the Rays organization is unwavering. We continue to focus on finding a ballpark solution that serves the best interests of our region, Major League Baseball, and our organization.