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Precedent from the NFL's Buccaneers, probably. The NHL's Lightning use it, too.
Tampa Bay is a body of water.
The larger city across said body of water from St. Petersburg is Tampa.
Many pro teams use a location other than their formal city address for the name, typically for marketing purposes or as a political part of the deal that landed some of the public financing for the playing facility.
States: Minnesota Twins, Arizona Diamondbacks, Texas Rangers, Colorado Rockies, New York Jets or Giants.
Regions: New England Patriots, Carolina Panthers.
Pseudo-states: Golden State Warriors.
Disasters: Los Angeles Angels Of Anaheim Which Is In Southern California You Betcha! (Cowards cannot even put a locale on their road unis.)
The Fantasy King
Because
1. Like someone already said, St. Petersburg is associated with Russia.
2. Tampa Bay is more popular than St. Petersburg.
3. Tampa Bay has more money.
4. Unlike the other reasons that have already been stated, most teams play in the outskirts of the BIG city but still say they are in the BIG city.
birdman
Ther is no such city as Tampa Bay. It is a regional thing, like the New England Patriots. Tampa Bay area is made up of St. Petersburg and Clearwater.
Anonymous
St. Petersburg isn't as well known as Tampa Bay. Also, Tampa Bay also has a better fan base and more money for the team than St. Petersburg.
staggmovie
It is a suburb of Tampa Bay, and they can still have call them selves the Tampa Bays Rays, even if they don't play in Tampa Bay, and it is maybe more easier, since a lot of people might not have heard of the actual town they play in. I know of sports teams that play in suburbs of Detriot and Chicago, that still has the main city in the name, rather then then have the name of the actual town they play in.