Imagine owning a team worth $1.25 billion. You’ve worked for years on a new ballpark, only to see it wiped out. Welcome to the joys of owning the Tampa Bay Rays.

The Rays should declare in writing whether they want to pursue an existing financing plan for a new $1.3 billion ballpark or walk away from the deal, a top county official says.

The Rays have until Dec. 1 to declare whether they want to commit to the construction of a $1.3 billion stadium originally voted on in July.