ST. PETERSBURG, Fla. (AP) — The Tampa Bay Rays say they’re in “exclusive discussions” with a Florida funding group for a possible sale of the workforce.
The Rays are valued at $1.25 billion, in line with Forbes journal. Stuart Sternberg purchased the Main League Baseball membership for $200 million in 2004.
“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,” the membership stated Wednesday whereas declining additional remark.
The potential sale comes at a precarious time for the Rays and their house ballpark. They’re enjoying this season on the spring coaching house of the New York Yankees in Tampa after the roof of Tropicana Subject in St. Petersburg was closely broken throughout Hurricane Milton final October.
Earlier than the hurricane, the Rays and town had agreed on a plan for a $1.3 billion stadium growth mission subsequent to Tropicana Subject. In March, Sternberg stated the membership was withdrawing from that settlement.
St. Petersburg is spending about $55 million to restore Tropicana Subject with a plan for the Rays to return there in 2026. Town and the membership have a three-year settlement to play there. Past that, the membership’s future within the Tampa Bay space is unsure.
When the Rays withdrew from the mission, town famous that it was attainable the membership would have new homeowners.
“If in the coming months a new owner, who demonstrates a commitment to honoring their agreements and our community priorities emerges, we will consider a partnership to keep baseball in St. Pete,” Mayor Ken Welch stated in March. “But we will not put our city’s progress on hold as we await a collaborative and community-focused baseball partner.”
