(St. Petersburg) The Tampa Bay Rays are expected to confirm Tuesday that they have reached an agreement to build their new stadium in St. Petersburg, Florida, reports the Tamba Bay Times.

Construction of the 30,000-seat roofed stadium, which is expected to open in 2028, would cost more than US$1.2 billion. The start of the project should at the same time put an end to rumors of the team moving – including one which mentioned the possibility of shared custody with Montreal.

The 30-year lease for Tropicana Field, the current home of the Rays, will expire in 2027. The Florida franchise has analyzed numerous alternatives, including locating in Tampa, since the crowds that attend its games are starved for years.

Rays owner Stuart Sternberg told the Tampa Bay Times earlier this month that the franchise expected to pay “half, if not more” of the bill resulting from the construction of the new stadium.

The new stadium is part of an impressive revitalization of St. Petersburg’s refinery sector – a project that will include low-income housing, office space and retail.