FORT LAUDERDALE, Fla. (AP) — The Florida Cabinet and Gov. Ron DeSantis agreed Tuesday to give Hillsborough College a 22-acre (49-hectare) plot of state land in Tampa to use for a proposed ballpark for the Rays.

Last month, the Rays ownership entered a memorandum of understanding to build a stadium and mixed use entertainment district on the college campus, and to renovate some of the college's buildings.

A small section of the property, which is next to the New York Yankees’ spring training facility and across a highway from Raymond James Stadium, was owned by the state of Florida.

The state holds the right to take back the land if the “components” of the new stadium do not exist within five years of the land transfer, according to the Cabinet's agenda item.

“This is undoubtedly a big moment for Tampa Bay, and the Rays are fully in this moment to bring this vision to life, and serve our region for generations to come,” Rays Chief Executive Officer Ken Babby said in a statement.

Earlier this month, DeSantis and Major League Baseball Commissioner Rob Manfred held a news conference in Tampa to support the Rays stadium effort. The Rays have said they hope to have the stadium built within three years.

The Rays have said they would pay a minimum of 50% of the cost of the new ballpark, and the remainder of the funds would have to come from the city of Tampa and Hillsborough County. DeSantis said this month the state will not contribute direct funding to the stadium.

Since taking the field in 1998 the team has played at Tropicana Field in St. Petersburg, except for moving home games to the Yankees' Steinbrenner Field in 2025 following hurricane damage at the Trop. The Rays lease runs through at least the 2028 season. The team returns to the Trop this season.

A proposed $1.3 billion redevelopment deal for a new ballpark adjacent to the Trop fell through last year, raising new questions about the future of the team, which was bought last September by Patrick Zalupski’s ownership group.

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