Patrick Zalupski-led group finalizes Tampa Bay Rays purchase ending Sternberg's 18-year ownership

A Florida-based ownership group led by real estate developer Patrick Zalupski has finalized the purchase of the Tampa Bay Rays from former owner Stuart Sternberg, marking the end of Sternberg's 18-year tenure. The sale was unanimously approved by Major League Baseball owners, though the purchase price was not disclosed. Zalupski, CEO of Dream Finders Homes Inc., will serve as the team's control person and co-chair alongside Bill Cosgrove, CEO of Union Home Mortgage, while Ken Babby, founder and CEO of Fast Forward Sports Group, will be the Rays' CEO. The group plans to restart efforts to build a new ballpark near Tropicana Field after the previous $1.3 billion project was withdrawn due to hurricane impacts and delays. Erik Neander will continue as president of baseball operations, maintaining continuity in the team's management. MLB Commissioner Rob Manfred welcomed the new ownership, expressing confidence that their experience and passion will benefit the franchise as it embarks on this new chapter.