Report: Sternberg to sell Rays for $1.7 billion

Tampa Bay Rays proprietor Stu Sternberg has agreed successful rule to a $1.7 cardinal woody to merchantability the franchise to a radical led by a Florida-based developer Patrick Zalupski, according to a report from The Athletic.

The woody is reportedly expected to beryllium closed arsenic aboriginal arsenic September and volition support the franchise successful the area, with Zalupski, a location builder successful Jacksonville, having a beardown penchant to onshore successful Tampa alternatively than St. Petersburg.

Sternberg bought the Rays successful 2004 for $200 million.

According to Zalupski's online bio, helium is the founder, president and CEO of Dream Finders Homes. The institution was founded successful December 2008 and closed connected 27 homes successful Jacksonville the pursuing year. Now, with an expanded footprint to galore parts of the United States, Dream Finders has closed connected much than 31,100 homes since its founding.

He besides is simply a subordinate of the committee of trustees astatine the University of Florida.

The caller ownership radical besides reportedly includes Bill Cosgrove, the CEO of Union Home Mortgage, and Ken Babby, proprietor of the Akron RubberDucks and Jacksonville Jumbo Shrimp, some minor-league teams.

A twelvemonth ago, Sternberg had a woody successful spot to physique a caller stadium successful the Historic Gas Plant District, a reimagined recreational, retail and residential territory successful St. Petersburg to regenerate Tropicana Field.

However, aft Hurricane Milton shredded the extortion of the stadium past October, forcing the Rays into impermanent quarters, Sternberg changed his tune, saying the squad would person to carnivore excess costs that were not successful the budget.

"After cautious deliberation, we person concluded we cannot determination guardant with the caller ballpark and improvement task astatine this moment," Sternberg said successful a connection backmost successful March. "A bid of events opening successful October that nary 1 could person anticipated led to this hard decision."

In March, MLB commissioner Rob Manfred and immoderate different owners began to privately propulsion Sternberg to merchantability the franchise, The Athletic reported.

It is unclear what Zalupski's group, if it yet goes done with the acquisition and is approved by MLB owners, would bash for a imperishable stadium.

The Rays presently are playing astatine George M. Steinbrenner Field successful Tampa, located astatine the tract of the New York Yankees' outpouring grooming installation and location of their Single-A Tampa Tarpons.

Field Level Media contributed to this report.