The Tampa Bay Rays are set to be sold to a group led by Jacksonville developer Patrick Zalupski for approximately $1.7 billion. The deal, agreed upon in principle, is expected to be finalized as early as September, according to sources familiar with the matter.
Who is Patrick Zalupski?
Patrick Zalupski is the founder and CEO of Dream Finders Homes, a company valued at $3.4 billion. His personal net worth is estimated at $1.4 billion, according to Forbes. Zalupski's acquisition of the Rays marks a significant moment for both him and the baseball franchise.
Rays to Stay in Tampa Bay?
Crucially for fans, Zalupski is expected to keep the team in the Tampa Bay area, with a preference for Tampa itself over St. Petersburg. This news comes as a relief after years of uncertainty surrounding the team's future location, including a previously considered plan to split time between Florida and Montreal.
Sternberg's Tenure Ends
Current owner Stu Sternberg, who purchased the team for $200 million in 2004, has been seeking a new stadium for the Rays for two decades, but various plans have fallen through. While the Rays have seen on-field success under Sternberg, including two pennants, the team has consistently ranked low in MLB payroll. The sale to Zalupski could signal a new era for the team's financial investment and stadium prospects.
What's Next?
The completion of the sale could pave the way for a resolution to the Rays' long-standing stadium issue. With a new owner at the helm committed to keeping the team in the Tampa Bay area, the future looks brighter for the franchise and its fans. The official announcement is awaited, but the news has already generated excitement within the baseball community.