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.
Sternberg purchased the Rays franchise for $200MM back in 2004 and has spent years unsuccessfully attempting to secure public funding for a new stadium in or around the St. Petersburg/Tampa area. A deal finally looked to be well on its way toward completion a year ago, but Hurricane Milton wrought catastrophic damage on Tropicana Field, derailing those plans and pushing the Rays to temporarily relocate to Tampa’s George M. Steinbrenner Field — home to the Yankees’ Florida State League affiliate and their annual home park during spring training.
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