Rays owner Stuart Sternberg announced Thursday the franchise will not move forward with a proposed $1.3 billion stadium in St. Petersburg, Fla., seemingly opening the door for potential relocation.

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.