The Tampa Bay Buccaneers NFL team is seeking a $1bn (£740m/€858m) renovation to its Raymond James Stadium.

The franchise has less than 10 months to extend its lease at the 28-year-old stadium by January 2027 before it expires in 2028.

Tampa Sports Authority officials have said that half of the project’s cost would go towards roofing to provide shade as the stands are completely exposed.

The team has suggested paying one-third of the cost while the public covers the remainder, as reported by the Tampa Bay Times.

The stadium talks come amid Tampa’s Major League Baseball team, the Rays, having recently secured approval for a new $2.3bn ballpark project in Hillsborough County.

Tampa Sports Authority board member Tony Muniz has asked Hillsborough County Commission to look “very hard” at which team should be prioritised.

“I think most of us have talked to the Buccaneers at this point, and we’re going to be writing a very large check in the very near future for Raymond James Stadium,” he said.

“And that’s our priority. We have to always remember that. I think that we need to take care of Raymond James before we go out and try to convince the Rays to stay in Tampa Bay.”

Tampa Sports Authority president Eric Hart said he expected the Bucs to request somewhere between $700m and $1.3bn in renovations for Raymond James Stadium.

The venue opened in 1998 and has a capacity of around 69,000. It has hosted the Super Bowl three times, most recently in 2021, and is also a major concert venue.

Tampa Sports Authority has already budgeted $58m for projects at Raymond James Stadium.

Hart said that while some of the renovations are for maintenance, the Sports Authority and the team share a common goal to do upgrades that would generate revenue.

The Rays are also seeking a large contribution from the public, requesting around $1bn from the taxpayer with the team’s current lease to play at Tropicana Field also expiring in 2028.

Elsewhere in Florida, the NFL’s Jacksonville Jaguars are planning a major redevelopment of EverBank Stadium that is expected to cost $1.4bn.

The Jaguars will spend the 2027 NFL season at Camping World Stadium in Orlando while work is carried out at EverBank Stadium.