The Tampa Bay Rays are in advanced talks to be sold for approximately $1.7 billion to a group led by Jacksonville home builder Patrick Zalupski, according to Sportico. The parties have signed a letter of intent, though the deal is not yet finalized.
Current owner Stuart Sternberg, who purchased the team for $200 million in 2004, may see a significant return. The potential sale comes as the Rays play home games at the Yankees’ Steinbrenner Field this season, following failed stadium plans in St. Petersburg.
Zalupski’s group includes minor league team owners, hinting at possible relocation discussions, though no final decision has been confirmed.
Reported by Sportico:
