Nov. 28 (Bloomberg) -- A retractable roof made of fabric will be part of a new $450 million waterfront baseball stadium for the Tampa Bay Rays, who are without a completed plan on how to pay for it.

Kansas City, Missouri-based HOK Sport designed the new ballpark, which features a ``light weatherproof'' fabric that will be tied to cables to cover the field and fans from rain. It would take eight minutes to open or close the roof.

The Rays, formerly known as the Devil Rays, would contribute an unidentified amount to build the ballpark. The Major League Baseball franchise will also seek assistance from the state and try to turn the site of its current stadium, Tropicana Field, into a commercial and residential development.

The new 34,000-seat stadium would be built at the Rays' spring training facility in St. Petersburg, Florida, and might be open for the 2012 season.

``Our vision is to build a breathtaking and contemporary waterfront ballpark,'' Rays owner Stuart Sternberg said in a statement.

The stadium plan is the latest change for the Rays since Sternberg took control of the franchise in 2005. He revamped the club's front office the day he took over and changed the team's name, colors and uniform earlier this month. The former Goldman Sachs Group Inc. executive led a group of investors who paid $69 million for 48 percent of the team in 2004.

The Rays, who have never had a winning season in their 10- year history, play at Tropicana Field in St. Petersburg, a domed stadium that seats 41,315. The club drew 1.4 million fans last season, just 19,000 fans ahead of the Florida Marlins, who had the lowest attendance in baseball.

Tampa Bay would contribute as much as $150 million toward the project and seek $60 million in future sales tax revenue on products sold at the new ballpark, the St. Petersburg Times reported. A sale of the development rights of the land where Tropicana Field sits would provide the bulk of the financing.

City Referendum

The City Council would have to approve adding construction of the stadium to a referendum next November. If approved, building might start in the middle of 2009.

``As a major part of Florida's economy, the sports industry pumps billions of dollars into our state and provides thousands of jobs for Floridians,'' Florida Governor Charlie Crist said in a statement. ``I commend the Tampa Bay Rays organization for designing a ballpark that will complement the community's beautiful waterfront and also be environmentally friendly.''

The team moved its spring training headquarters to Port Charlotte, Florida, in 2009, creating space at Al Lang Field to build the new stadium.

Florida's other major-league team, the Marlins, has been unsuccessful in raising funds to build a ballpark in Miami. Tampa had the lowest payroll in baseball last year at $24 million and Florida had the second lowest at $31 million.

To contact the reporter on this story: Danielle Sessa in New York at dsessa@bloomberg.net

Last Updated: November 28, 2007 16:08 EST