Mon Jul 14 20:40:00 UTC 2025: ## Tampa Bay Rays Poised for $1.7 Billion Sale, Future in Tampa Favored
**ATLANTA** – The Tampa Bay Rays are reportedly nearing a change in ownership, with a deal in principle agreed upon to sell the team to a group led by Jacksonville developer Patrick Zalupski for approximately $1.7 billion. The sale, expected to finalize as early as September, marks a significant moment for the franchise and could finally resolve the team’s long-standing stadium woes.
Sources familiar with the deal, speaking on condition of anonymity, indicate that Zalupski is committed to keeping the Rays in the Tampa Bay area, with a preference for building a new stadium in Tampa rather than St. Petersburg.
Current owner Stu Sternberg, who purchased the team for $200 million in 2004, has spent two decades searching for a replacement for the aging Tropicana Field. Multiple stadium proposals have fallen through, including a controversial plan to split the team’s season between Florida and Montreal.
Zalupski’s group, which also includes Bill Cosgrove of Union Home Mortgage and minor league team owner Ken Babby, emerged as the frontrunner in recent months. Sportico reported advanced talks in June, and the Rays confirmed exclusive negotiations last month.
The prospective sale comes after a challenging period for the team. Hurricane Milton caused significant damage to Tropicana Field last fall, forcing the Rays to play the current season at the New York Yankees’ spring training facility. This setback also derailed a $1.3 billion deal for a new stadium in St. Petersburg due to funding disputes.
Major League Baseball Commissioner Rob Manfred expressed hope last month that repairs to Tropicana Field would allow the Rays to return for the 2026 season.
With a new ownership group poised to take the helm, the future of the Tampa Bay Rays and their stadium situation appears to be on the cusp of a new era.
First Piper 