When the Rays and development partner Hines were selected to redevelop the Gas Plant District last year, elected officials and baseball fans across Tampa Bay had hoped it would end years of uncertainty surrounding the fate of the site and the team’s future in the region.

Tampa Bay Rays owner Stuart Sternberg said the team will not meet the deadline to move forward on a new stadium. Here's what it means for the team's future.

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.