Rays in Advanced Talks to Sell Team
Rays owner Stuart Sternberg is in “advanced” discussions to sell the franchise. The purchasing group is led by Patrick Zalupski, a developer based in Jacksonville. The deal, which is not yet completed, values the team at about $1.7 billion, according to Sportico.
Mandatory Credit: Kim Klement-USA TODAY Sports
The team is playing this season at Steinbrenner Field, the Yankees’ minor league complex in Tampa Bay, after Hurricane Milton destroyed the roof of Tropicana Field, the team’s home ballpark in St. Petersburg.
Mother Nature hasn’t been the only factor in determining where the Rays play baseball. The local government had approved a new stadium deal last summer, but a stalling of ongoing votes nixed the deal.
This is just one part of Sternberg’s ongoing failure to get the public funding necessary for a new stadium since he bought the team for $200 million in 2004. Despite having one of the more consistent products on the field, the team has consistently been in the bottom five in attendance figures during that time.
The Rays released the following statement regarding the reported talks:
“The Tampa Bay Rays announced that the team has recently commenced exclusive discussions with a group led by Patrick Zalupski, Bill Cosgrove, Ken Babby and prominent Tampa Bay investors concerning a possible sale of the team. Neither the Rays nor the group will have further comment during the discussions.”
The last MLB franchise to be sold was the Orioles, who were purchased last year for $1.73 billion.
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