The Tampa Bay Rays are being sold after principal owner Stu Sternberg initiated talks with a group led by Patrick Zalupski, a Florida-based residential developer. The deal values the team at around $1.7 billion. Sternberg bought the Rays in 2004 for $200 million.
MLB Commissioner Rob Manfred and other owners reportedly pushed Sternberg to sell the franchise in March. However, Sternberg initially delayed plans for a new stadium due to Hurricane Milton’s damage in October.
Zalupski, founder of Dream Finders Homes, is also on the board of trustees at the University of Florida. His group’s future plans for a permanent stadium are unclear. The Rays currently play at George M. Steinbrenner Field, owned by the New York Yankees.
Source: https://www.espn.com/mlb/story/_/id/45538987/rays-owner-advanced-talks-sell-team-developer