Tampa Bay Rays owner Stu Sternberg has reportedly reached an agreement to sell the franchise for approximately $1.7 billion, according to multiple sources familiar with the negotiations. The deal is expected to be led by Patrick Zalupski, a Florida-based homebuilding executive, and includes a group of investors. While final details are still being worked out, the transaction is expected to close later this year, pending approval from Major League Baseball.
Sternberg, who has owned the team since 2004, is stepping aside after more than two decades at the helm. The new ownership group reportedly intends to keep the team in the Tampa Bay area, though there is strong interest in moving the club’s future stadium from St. Petersburg to Tampa. This follows years of stadium uncertainty and recent setbacks caused by hurricane damage to Tropicana Field. MLB officials have expressed support for the sale, seeing it as a step toward stabilizing the team’s long-term future.
