ST. PETERSBURG, Fla. — The Tampa Bay Rays are in “advanced talks” to sell the team to a group led by a North Florida home developer.
According to multiple reports, Jacksonville-based businessman Patrick Zalupski and his group are in advanced talks for a $1.7 billion sale.
Zalupski reportedly has signed a letter of intent to purchase the franchise but that does not hold a binding legal agreement.
No indication has been given what this potential sale would impact the Rays’ long pursuit of a new stadium under current owner Stuart Sternberg.
The founder, president and CEO of Dream Finders Homes, the 44-year-old Zalupski also was appointed to the University of Florida Board of Trustees in February 2023.
Tampa Bay’s long-winding stadium search became effectively dead in March when Sternberg withdrew support on a $1.3 billion ballpark adjacent to Tropicana Field, citing a hurricane and delays that likely drove up the proposal’s cost.
At that time, the team issued a statement saying “a series of events” in October, which included severe damage to the Trop and financing delays, led to what he called “this difficult decision.”
Displaced from the Trop in St. Petersburg, the Rays are playing their home games this season across Tampa Bay at the New York Yankees’ spring training home, 11,000-seat Steinbrenner Field.
At 40-33 as of Wednesday, the Rays are in second place in the American League East and leading the Wild Card race.
Meanwhile, repairs are slowly ongoing at the Trop, including replacing its roof shredded by Hurricane Milton, that would have it ready for the 2026 season.
When contacted Wednesday, the Rays released a statement saying: “The Tampa Bay Rays announced that the team has recently commenced exclusive discussions with a group led by Patrick Zalupski, Bill Cosgrove, Ken Babby and prominent Tampa Bay investors concerning a possible sale of the team. Neither the Rays nor the group will have further comment during the discussions.”
Also, the City of St. Petersburg released a statement saying: “The Rays team has not spoken to City administration regarding the reported sale of the team.”
(Except for the headline, this story has not been edited by PostX News and is published from a syndicated feed.)
