Rays Sale Talks Intensify Amid Stadium Uncertainty

The Tampa Bay Rays are in exclusive negotiations to be sold to a group led by Patrick Zalupski, founder and CEO of Dream Finders Homes, in a deal valuing the team at around $1.7 billion. Other key investors include Bill Cosgrove, Ken Babby, and prominent Tampa Bay figures, and the group has signed a letter of intent, though the sale is not final and requires MLB approval. The sale talks follow years of stadium uncertainty, worsened when Hurricane Milton damaged Tropicana Field, leading the team to withdraw from a $1.3 billion redevelopment project and temporarily relocate games. The Rays, bought by current owner Stu Sternberg for $200 million in 2004, have faced low attendance despite on-field success, and MLB officials have pressured for an ownership change. St. Petersburg officials have expressed willingness to work with new owners committed to local agreements and community priorities. The resolution of the sale may influence whether the Rays remain in Tampa Bay and how future stadium plans unfold.