Rays Sale to Zalupski Group Adds Key Investors

Tampa Bay Rays owner Stu Sternberg has agreed in principle to sell the team to a group led by Jacksonville developer Patrick Zalupski for about $1.7 billion, with prominent investors including Ken Babby and Bill Cosgrove. The sale, expected to be finalized by September, still requires the approval of 75% of MLB owners. Hurricane Milton destroyed Tropicana Field, leading the Rays to play home games at Steinbrenner Field in Tampa this season. Zalupski's group is expected to keep the team in the Tampa Bay area, with a preference for Tampa over St. Petersburg, though a permanent stadium solution is still pending. The ownership change could accelerate efforts to secure a new stadium and boost local fan engagement. Sternberg's 20-year tenure saw notable success despite ongoing stadium challenges.