In the wake of the Tampa Bay Rays’ announcement that they won’t move forward with the current stadium deal in St. Petersburg, many elected officials around the bay echoed the same response: disappointment. Others lambasted what they considered a bad deal for taxpayers from the start.

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.