The Tampa Bay Rays' plans to build a stadium and mixed-use entertainment district in downtown St. Petersburg are dead. The team posted a statement on X on Thursday morning.

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.

A deal to build a new stadium for the Tampa Bay Rays fell through. Pressure is reportedly mounting on the Rays owner to sell the team. Salt Lake City is among cities looking to land a major league baseball franchise.