After nearly two decades toiling for a new stadium, the Tampa Bay Rays finally struck a deal that ensured their long-term future in St. Petersburg. Thursday, they walked away, leaving $730 million in public funding on the table and the future of the franchise very much in doubt.

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.