The Sale That Could Finally Stabilize the Tampa Bay Rays

MLB fans are used to the drama of ownership changes — billion-dollar price tags and stadium tug-of-wars have become the norm. But there’s something uniquely long-winded about the Tampa Bay Rays saga. For years, it’s been a cycle of stadium renderings and half-baked relocation threats. Now, though, it looks like the franchise might finally be turning the page.

Longtime Rays owner Stu Sternberg is nearing a deal to sell the franchise to a Florida-based investment group led by Jacksonville real estate developer Patrick Zalupski. The reported sale price is $1.7 billion — not exactly unheard of in today’s MLB, but still a massive number for a team that’s spent most of its existence with one of the league’s smallest payrolls. If everything clears, the paperwork could reach MLB’s desk by September, and with a three-fourths approval from owners, the Rays would be looking at new leadership for the first time in over 20 years.

New Ownership, New Outlook?

Patrick Zalupski isn’t exactly a name that jumps out to most baseball fans, but that could be changing soon. He’s 45 years old, runs a publicly traded homebuilding company called Dream Finders Homes that’s valued over $3.4 billion, and built his wealth by developing neighborhoods across Florida. That puts him in the sweet spot financially: rich enough to buy a Major League team, but not so loaded that owning one feels like a throwaway hobby. He’s not flying solo either. Joining him are Bill Cosgrove, who runs Union Home Mortgage, and Ken Babby, who owns two well-run minor league clubs — the Akron RubberDucks and Jacksonville Jumbo Shrimp. 

Outgoing owner Stu Sternberg was a Wall Street guy to his core. Tampa Bay ranks 27th in payroll this season at around $88 million, despite playing in a division loaded with financial heavyweights.

So now, with a potential new ownership group stepping in, fans are naturally wondering: are these guys just buying in because the franchise is undervalued? Or are they actually going to treat the Rays like something worth building around?

The Stadium That Wouldn’t Die (Even When a Hurricane Tried)

No conversation about the Rays is complete without diving into the stadium mess — because let’s be honest, it’s been the backdrop to almost every major headline surrounding this franchise for the last two decades. Tropicana Field, long considered one of baseball’s quirkiest (and most outdated) venues, took an even bigger hit last October when Hurricane Milton punched a hole through the roof, flooded the concourses, and basically made it look like someone had tried to turn it into an indoor water park. Repairs are underway, and there’s a plan to reopen it in 2026 — but with the lease expiring in 2028, there’s a sense that this might be more of a patch job than a permanent solution.

According to multiple reports, one of the new ownership group's top priorities is keeping the Rays in the Tampa Bay area — but relocating them to the Tampa side of the bridge. That’s a big shift from the old plan, which had the team staying in St. Pete under a $1.3 billion redevelopment deal that fell apart earlier this year. Hillsborough County Commissioner Ken Hagan, who’s been the county’s unofficial point man on stadium talks, says preliminary financial modeling is already underway — and the ownership group could be willing to cover as much as 60% of the total cost.

So while the Trop’s leaky roof is being patched and political chess plays out across city lines, the Rays’ long-term home is still up in the air. But for once, it feels like there’s a real plan forming — and maybe, just maybe, someone with the means and motivation to see it through.

Meanwhile on the Field: Same Old Resourceful Rays

Despite all the headlines off the field, Kevin Cash’s team is quietly putting together a very Rays-like season — efficient, under the radar, and still squarely in the playoff mix. As it stands now, they’re 50–47, sitting in fourth place in the brutal AL East but just 1.5 games out of a wildcard spot.

What’s different this year is how they’re doing it. After years of mixing and matching pitchers like a jigsaw puzzle, the Rays have finally committed to a normal five-man rotation. And it’s working. Their starters lead all of MLB in innings pitched, a major shift from their old "opener" playbook that made baseball purists furious.

Drew Rasmussen is finally healthy and has settled in as the reliable front-line arm the team hoped he’d become. Shane Baz has started to look like the top prospect he once was, and Zack Littell is having the kind of overachieving year that's become a Rays trademark. It's not all sunshine and rainbows though; the bullpen has had its struggles, especially during a rough June where Tampa dropped 12 of 16 games.

It’s a classic Rays recipe: make the most out of what you’ve got and grind your way into the playoff picture. With the off-field chaos swirling, the players are doing their best to remind everyone why this team is worth investing in.

Finally Some Light at the End of the Dome?

Rays fans have every reason to keep their guard up. Over the years, they’ve had to deal with relocation threats to Montreal and more renderings of imaginary ballparks than actual postseason wins. The stadium drama has gone on so long that some of the prospects making big-league debuts this year weren’t even born when it started.

So it’s fair to approach this move with cautious optimism. But the good news is, whether it’s at Tropicana Field with a patched-up roof, Steinbrenner Field’s spring training setup, or wherever their future home ends up being, this team keeps grinding. It’s not always pretty, but it’s effective. They develop well, pitch well, and stay relevant when they’re supposed to be fading.