The Rays lost the St. Petersburg vote due to their unwillingness of give up some money:

Through questioning it was revealed that the current agreement allows the Rays to maintain 50% of the proceeds from redeveloping the site of Tropicana Field. Under the new deal that was brought to the City Council for vote, this would not have changed.

To many on the Council, this was a slap in the face. The Rays wanted to explore every opportunity to leave Tropicana Field, and they wanted to profit from Tropicana Field if they’d vacated the premises. On that realization, the vote swung from Yes to No.

I can’t feel sorry for the Rays. They were getting a good deal, but were unwilling to give something in return. Just another reason cities should not get in bed with sports teams.