Rays Owner Stuart Sternberg addressed his recent comments that the club might only be able to cover $150M of the projected $800M cost of a new ballpark, indicating the team’s contribution could go up. Speaking during the first panel discussion at the inaugural Dealmakers in Sports conference, Sternberg said the Rays are asking local businesses to give “some commitments” to support the team with, for example, purchases of suites, sponsorships and naming rights. Sternberg: “That’s really what’s going to drive the difference between us being able to put up $150M, and if we find that those things are more robust, then that number can certainly go up.” He added, “I don’t want to build an edifice to myself. I don’t want to put up a building and have it not move the needle for us at all." Sternberg noted $150M would allow the team "to make a contribution, pay off our debt over 25 years -- whatever it has to be -- and still do what we want to do, which is put a more successful product on the field." Sternberg: "For us to be able to go in and break even again at a $65M payroll, it doesn’t make sense. We want to be able to jump the payroll if we’re taking that sort of risk.” Sternberg said the club’s progress on a new ballpark is “moving” along. However, he did address attendance concerns that the Rays have dealt with over the years playing at Tropicana Field. While World Series appearances for clubs like the Indians and Royals helped boost their attendance numbers, Sternberg noted that past success for the Rays -- including a trip to the ’08 Fall Classic -- did not dramatically drive attendance gains. He said, “We never had real growth at the box office. We’re going to have to see what Tampa Bay has, because I can’t completely put my faith in the idea that if we just build a stadium it’s going to work.”
DEFINING SUCCESS: Asked by J.P. Morgan Managing Dir Scott Milleisen how he measures success for the Rays, Sternberg said, “Would I rather win 95 games and have low ratings and a million fans in the place, or win 70 games and have high ratings and 2.4 million people in the place? I’d probably go for the latter.” He added, “Neither one of these is going to happen. Unless you’re the Cubs or the Red Sox you can sort of get away with one and not the other. … The way I define [success] is to come to Labor Day or September 10 every year and have the games really mean something.”
