Rays $1.7B Sale Could Bring Big League Baseball Home to Tampa
It’s official: Tampa Bay’s baseball future is in play. Rays owner Stu Sternberg is reportedly closing in on a $1.7 billion deal to sell the team, with the sale expected to finalize this September. For fans across the region, the announcement isn’t just about a changing of the guard—it’s about the very location of the team’s next chapter.
From Bargain Buy to Billion-Dollar Deal
When Sternberg purchased the Rays back in 2004 for roughly $200 million, few could have predicted just how dramatically the team’s valuation would rise. But efforts to build a new stadium in St. Petersburg have repeatedly hit a wall, most recently with the collapse of a proposed $1.3 billion downtown ballpark. Then came Hurricane Milton in late 2024, which significantly damaged Tropicana Field and added more uncertainty. Citing construction delays and spiraling costs, Sternberg officially paused all stadium talks earlier this year.
A Tampa Fanbase Already Showing Up
In the wake of the storm, the Rays temporarily relocated to Steinbrenner Field in Tampa. Since the move, fans have shown up in droves—attendance has hovered around 90% capacity, a massive jump from the 38% averages the team was seeing at the Trop. That kind of energy has caught the eye of local leaders, including Tampa Mayor Jane Castor, who recently confirmed her interest in seeing the Rays settle in the city permanently. She even floated Ybor City as a potential stadium site, noting that several East Tampa locations are under consideration.
The New Faces Behind the Franchise
Leading the charge to buy the team is Patrick Zalupski, a Jacksonville-based developer and founder of Dream Finders Homes. He’s joined by a group of experienced baseball investors, including Bill Cosgrove and Ken Babby—both of whom have made successful runs as minor league team owners. If approved by Major League Baseball, the group is widely expected to prioritize a permanent move to Tampa.
The deal still needs 75% approval from MLB’s ownership group, but the momentum appears strong. September 2025 is being floated as the closing date, and behind the scenes, conversations about stadium plans are already bubbling.
What This Means for Tampa Bay
A move to Tampa would mean more than just a new address for the Rays—it could kickstart a local economic boom. A modern ballpark in Ybor or East Tampa could create jobs, boost local businesses, and add fresh fuel to the region’s growing sports scene. The team’s surge in attendance already signals that fans are hungry for a better experience—and they’re willing to travel for it.
Politically, there’s still ground to cover. Any stadium deal will likely require a mix of public and private investment, and Tampa’s city leaders will need to navigate the process carefully. But with strong community engagement and fresh ownership stepping in, the time may finally be right.
A Defining Season Ahead
Whether you're a die-hard Rays fan or just love the idea of Tampa finally hosting Major League Baseball full-time, this story is worth watching. A $1.7 billion sale, enthusiastic fan turnout, and real conversations about a Tampa stadium suggest that this moment could define the next generation of local sports.
So, is this the year the Rays truly come home? One thing is clear: Tampa Bay is ready for the big leagues—and this time, the region just might get the stadium (and the future) it’s been waiting for.