Tampa Bay Rays principal owner Stu Sternberg is in advanced talks to sell the team to a group led by Florida real estate developer Patrick Zalupski, reports Sportico. The deal values the team at roughly $1.7 billion. Zalupski has signed a Letter of Intent (LOI) to purchase the Rays, though that does not mean the sale is final. It is possible it will not be completed.
Back in March, Sternberg announced the Rays will not move forward with plans to build a new $1.3 billion ballpark in St. Petersburg, citing “a series of events beginning in October that no one could have anticipated.” Chief among those events is Hurricane Milton, which severely damaged Tropicana Field. That immediately led to speculation Sternberg would sell the team.
The damage to Tropicana Field has forced the Rays to play their home games at George M. Steinbrenner Field, spring training home of the New York Yankees, this season. The Trop is undergoing repairs and is expected to be ready in time for the 2026 season. The team’s lease expires after 2028. It was extended one year because the Rays are unable to play there this season.
The reported $1.7 billion sale price would be just south of the $1.725 billion a group led by David Rubenstein paid for the Baltimore Orioles last year. Sternberg purchased the team for $200 million in 2004 and the Rays have sought a new ballpark in Tampa or the surrounding area for well over a decade. The St. Petersburg project was moving forward before Hurricane Milton.
Zalupski is founder and CEO of Dream Finders Homes, which got its start in Jacksonville. The company is valued at $3.4 billion and Zalupski’s net worth is $1.4 billion, per Forbes. Earlier this year, Forbes valued the Rays at $1.35 billion, second lowest among the 30 MLB teams. Franchise valuation is not necessarily the same thing as sale price, though it is a decent guidepost.
The Rays have been competitive more often than not during the Sternberg era. They won the American League pennant in 2008 and 2020, and they’ve been to the postseason five times in the last six years. Despite their on-field success, the Rays regularly rank near the bottom of the league in attendance.
This news was originally published on this post .
About the author
Where to watch NBA Finals: Thunder vs. Pacers TV channel, live stream, Game 6 prediction, pick, time, odds
Getty Images The Oklahoma City Thunder have a chance to capture the franchise's first title since relocating to OKC on Thursday night. The Indiana Pacers have a chance to force the first NBA Finals Game 7 since 2016. The Thunder enter Game 6 with a 3-2 series lead after back-to-back victories, and they are favored to close things out on the road in Indianapolis.Pacers star guard Tyrese Haliburton is dealing with a calf injury but will give it a go on Thursday night.The Thunder got 71 combined points from Jalen Williams and Shai Gilgeous-Alexander in Game 5. The OKC stars are the two leading scorers in the series, with Gilgeous-Alexander averaging 32.4 points per game and Williams adding 25.8. SGA, the regular-season MVP, is the heavy favorite to win Finals MVP (-650 on BetMGM entering Game 6). Pacers vs. Thunder: […]
Dodgers delay plans to help local immigrants amid California ICE raids after federal agents denied entry
The Los Angeles Dodgers put off an announcement for plans to help local immigrants in light of recent Immigration and Customs Enforcement raids after federal agents were denied entry into stadium parking lots earlier Thursday."Because of the events earlier today, we continue to work with groups that were involved with our programs," team president Stan Kasten said in a statement Thursday night. "But we are going to have to delay today's announcement while we firm up some more details. We'll get back to you soon with the timing." ICE raids have swept through Southern California over the last several weeks at the orders of President Donald Trump, who has called on officials to "do all in their power to achieve the very important goal of delivering the single largest mass deportation program in history." The raids have been met with local […]
André Hernan revela data de apresentação de Hernán Crespo ao São Paulo
Treinador não deverá chegar ao Brasil nesta semana (Foto: Rubens Chiri / saopaulofc.net) Treinador ainda deve demorar para assumir o comando do Tricolor; jornalista revelou detalhes da negociação que o levou de volta ao Morumbi A volta de Hernán Crespo ao São Paulo está oficializada e anunciada, com o argentino retornando ao clube para assumir o lugar deixado por Luis Zubeldía. Mas o torcedor ainda deve demorar para ver o ‘novo velho’ comandante em ação no CT da Barra Funda. PUBLICIDADE PUBLICIDADE Somente na semana que vem é que Crespo se apresentará ao Tricolor. De acordo com o informado por André Hernan no Uol Esporte, houve um acerto entre o treinador e o clube para que este se chegue ao Brasil antes do elenco são-paulino se reapresentar para o início do trabalhos para a volta do Brasileirão. A volta aos […]
André Hernan revela data de apresentação de Hernán Crespo ao São Paulo
Treinador não deverá chegar ao Brasil nesta semana (Foto: Rubens Chiri / saopaulofc.net) Treinador ainda deve demorar para assumir o comando do Tricolor; jornalista revelou detalhes da negociação que o levou de volta ao Morumbi A volta de Hernán Crespo ao São Paulo está oficializada e anunciada, com o argentino retornando ao clube para assumir o lugar deixado por Luis Zubeldía. Mas o torcedor ainda deve demorar para ver o ‘novo velho’ comandante em ação no CT da Barra Funda. PUBLICIDADE PUBLICIDADE Somente na semana que vem é que Crespo se apresentará ao Tricolor. De acordo com o informado por André Hernan no Uol Esporte, houve um acerto entre o treinador e o clube para que este se chegue ao Brasil antes do elenco são-paulino se reapresentar para o início do trabalhos para a volta do Brasileirão. A volta aos […]
2025 FIFA Club World Cup standings, table: Bayern Munich vs. Boca Juniors, Chelsea vs. Flamengo live stream
The best teams in the world are in the United States this summer as the FIFA Club World Cup brings teams together, from the reigning Champions League champions Paris Saint-Germain to the only amateur side in the competition in Auckland City FC from New Zealand. Lionel Messi and Inter Miami kicked off the competition on June 14, with a 0-0 draw against Al Ahly of Egypt, with every team gunning for a place in the final on July 13 at MetLife Stadium in East Rutherford, NJ. With prizes worth one billion dollars on the line, teams like Al-Hilal have been looking to load up for this tournament, but only time will tell if things like bringing in Simone Inzaghi will be able to break the hold that Europe and Brazil have had on this tournament. It will be a wild […]
Luis Suárez passa em branco no Inter Miami e internautas relembram passagem pelo Brasil: “No Grêmio não perderia”
Luis Suárez está no Inter Miami desde o fim de 2023 | Foto: Rich Storry/GettyImages O centroavante uruguaio, que jogou nesta quinta-feira (19), perdeu um gol cara a cara com o goleiro, na partida contra o Porto, no Mundial A passagem de Luis Suárez com a camisa do Grêmio é inesquecível na memória do torcedor tricolor até hoje. Ter o melhor jogador do Brasileirão na campanha do vice-campeonato de 2023 faz a torcida recordar e ressaltar o uruguaio, mesmo quando ele vive um momento individual inferior ao futebol de alto nível que já mostrou na carreira. PUBLICIDADE PUBLICIDADE Na partida desta quinta-feira (19), entre Inter Miami e Porto, pelo Mundial de Clubes, Suárez perdeu um gol incrível, cara a cara com o goleiro Cláudio Ramos. Bastou a repercussão do lance nas redes sociais, que os gremistas apareceram para demonstrar saudades […]
Related
Where to watch NBA Finals: Thunder vs. Pacers TV channel, live stream, Game 6 prediction, pick, time, odds
Getty Images The Oklahoma City Thunder have a chance to capture the franchise's first title since relocating to OKC on Thursday night. The Indiana Pacers have a chance to force the first NBA Finals Game 7 since 2016. The Thunder enter Game 6 with a 3-2 series lead after back-to-back victories, and they are favored to close things out on the road in Indianapolis.Pacers star guard Tyrese Haliburton is dealing with a calf injury but will give it a go on Thursday night.The Thunder got 71 combined points from Jalen Williams and Shai Gilgeous-Alexander in Game 5. The OKC stars are the two leading scorers in the series, with Gilgeous-Alexander averaging 32.4 points per game and Williams adding 25.8. SGA, the regular-season MVP, is the heavy favorite to win Finals MVP (-650 on BetMGM entering Game 6). Pacers vs. Thunder: […]
Dodgers delay plans to help local immigrants amid California ICE raids after federal agents denied entry
The Los Angeles Dodgers put off an announcement for plans to help local immigrants in light of recent Immigration and Customs Enforcement raids after federal agents were denied entry into stadium parking lots earlier Thursday."Because of the events earlier today, we continue to work with groups that were involved with our programs," team president Stan Kasten said in a statement Thursday night. "But we are going to have to delay today's announcement while we firm up some more details. We'll get back to you soon with the timing." ICE raids have swept through Southern California over the last several weeks at the orders of President Donald Trump, who has called on officials to "do all in their power to achieve the very important goal of delivering the single largest mass deportation program in history." The raids have been met with local […]
André Hernan revela data de apresentação de Hernán Crespo ao São Paulo
Treinador não deverá chegar ao Brasil nesta semana (Foto: Rubens Chiri / saopaulofc.net) Treinador ainda deve demorar para assumir o comando do Tricolor; jornalista revelou detalhes da negociação que o levou de volta ao Morumbi A volta de Hernán Crespo ao São Paulo está oficializada e anunciada, com o argentino retornando ao clube para assumir o lugar deixado por Luis Zubeldía. Mas o torcedor ainda deve demorar para ver o ‘novo velho’ comandante em ação no CT da Barra Funda. PUBLICIDADE PUBLICIDADE Somente na semana que vem é que Crespo se apresentará ao Tricolor. De acordo com o informado por André Hernan no Uol Esporte, houve um acerto entre o treinador e o clube para que este se chegue ao Brasil antes do elenco são-paulino se reapresentar para o início do trabalhos para a volta do Brasileirão. A volta aos […]
André Hernan revela data de apresentação de Hernán Crespo ao São Paulo
Treinador não deverá chegar ao Brasil nesta semana (Foto: Rubens Chiri / saopaulofc.net) Treinador ainda deve demorar para assumir o comando do Tricolor; jornalista revelou detalhes da negociação que o levou de volta ao Morumbi A volta de Hernán Crespo ao São Paulo está oficializada e anunciada, com o argentino retornando ao clube para assumir o lugar deixado por Luis Zubeldía. Mas o torcedor ainda deve demorar para ver o ‘novo velho’ comandante em ação no CT da Barra Funda. PUBLICIDADE PUBLICIDADE Somente na semana que vem é que Crespo se apresentará ao Tricolor. De acordo com o informado por André Hernan no Uol Esporte, houve um acerto entre o treinador e o clube para que este se chegue ao Brasil antes do elenco são-paulino se reapresentar para o início do trabalhos para a volta do Brasileirão. A volta aos […]
2025 FIFA Club World Cup standings, table: Bayern Munich vs. Boca Juniors, Chelsea vs. Flamengo live stream
The best teams in the world are in the United States this summer as the FIFA Club World Cup brings teams together, from the reigning Champions League champions Paris Saint-Germain to the only amateur side in the competition in Auckland City FC from New Zealand. Lionel Messi and Inter Miami kicked off the competition on June 14, with a 0-0 draw against Al Ahly of Egypt, with every team gunning for a place in the final on July 13 at MetLife Stadium in East Rutherford, NJ. With prizes worth one billion dollars on the line, teams like Al-Hilal have been looking to load up for this tournament, but only time will tell if things like bringing in Simone Inzaghi will be able to break the hold that Europe and Brazil have had on this tournament. It will be a wild […]
Luis Suárez passa em branco no Inter Miami e internautas relembram passagem pelo Brasil: “No Grêmio não perderia”
Luis Suárez está no Inter Miami desde o fim de 2023 | Foto: Rich Storry/GettyImages O centroavante uruguaio, que jogou nesta quinta-feira (19), perdeu um gol cara a cara com o goleiro, na partida contra o Porto, no Mundial A passagem de Luis Suárez com a camisa do Grêmio é inesquecível na memória do torcedor tricolor até hoje. Ter o melhor jogador do Brasileirão na campanha do vice-campeonato de 2023 faz a torcida recordar e ressaltar o uruguaio, mesmo quando ele vive um momento individual inferior ao futebol de alto nível que já mostrou na carreira. PUBLICIDADE PUBLICIDADE Na partida desta quinta-feira (19), entre Inter Miami e Porto, pelo Mundial de Clubes, Suárez perdeu um gol incrível, cara a cara com o goleiro Cláudio Ramos. Bastou a repercussão do lance nas redes sociais, que os gremistas apareceram para demonstrar saudades […]
Be the first to leave a comment