Rays In "Advanced Talks" About Potential Sale Of Team - MLB Trade Rumors

Rays owner Stuart Sternberg is in “advanced talks” with Jacksonville real estate developer Patrick Zalupski about a sale of the franchise for approximately $1.7 billion, per a report from Scott Soshnick and Kurt Badenhausen of Sportico. Zalupski has signed a letter of intent to purchase the club, the Sportico pair adds, though that does not signify that a deal will definitely cross the line. Still, Joel Sherman off the New York Post hears similarly, reporting that talks between the two parties are serious and that the Zalupski-led group is the only buyer with which the Rays are negotiating at the moment.

The Rays have issued the following statement acknowledging the negotiations but declined to provide further comment or details:

“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.”

The team is expected to remain in the Tampa Bay area if the current sale process is completed, Marc Topkin and Colleen Wright of the Tampa Bay Times report. It’s not yet clear where exactly within that region Zalupski’s group would seek to have a new stadium built.

good for them. must be nice to have hope again as a fan that they'll get owners who will spend - even if it doesn't pan out in the end.

36 minutes ago, hovertical said:

good for them. must be nice to have hope again as a fan that they'll get owners who will spend - even if it doesn't pan out in the end.

Yeah, no kidding. Obviously this isn't a done deal, but there's light on the horizon (of course there was with the new stadium deal too until there wasn't), but the grass isn't always greener, as we know....

Zalupski is 44 and worth $1.5 billion. Still small compared to some owners but 3 times as wealthy as Sherman.

move 'em to Jax!

The Athletic also had an article saying another group led by Memphis hedge fund founder Trip Miller that made an all cash offer to Sternberg last week, with investment expected to be around 3B (roughly a 50/50 split between purchase price and new stadium), and they’re planning on keeping the team in the “central Florida” area.

I say let one group buy the Rays and whoever loses out buys the Marlins lol

6 hours ago, rmc523 said:

I say let one group buy the Rays and whoever loses out buys the Marlins lol