The Tampa Bay Rays announced Thursday they will not be moving forward with an on-the-table deal for a new $1.3 billion stadium and surrounding redevelopment in St. Petersburg. The team was facing a March 31 deadline to meet a series of obligations, including providing proof of funds to cover their share of the project. The city of St. Pete and Pinellas County signed agreements and committed more than $600 million in public funding for the project. "After careful deliberation, we have concluded we cannot move forward with the new ballpark and development project at this moment. A series of events beginning in October that no one could have anticipated led this difficult decision," a statement from owner Stuart Sternberg posted on social media read. Since October, Rays team leaders have blamed Hurricane Milton's damage to Tropicana Field, loss of revenue, cost overruns and a delayed bond vote at the county level for souring the once sweet partnership. MORE: https://www.wtsp.com/article/sports/tampa-bay-rays-cant-move-forward-new-ballpark-deal/67-926ff5bb-7cd3-4982-9a40-77c3289ff12b