An agreement in principle has been reached for Major League Baseball’s Tampa Bay Rays to be acquired by developer Patrick Zalupski for about $1.7 billion.
The deal is expected to be completed as soon as September, possibly before the end of the current MLB season, and keep the club in the Tampa region, the sports news website owned by The New York Times said, quoting an unnamed source.
At 50-47, the Rays are fourth in the American League East division and seventh overall in the AL, in the fight for a wildcard playoff berth.
The Rays have twice reached the World Series, losing to Philadelphia in 2008 and to the Los Angeles Dodgers in 2020.
Forbes magazine ranked the Rays as the second-least valued MLB club at $1.25 billion in March, with only the Miami Marlins below them among the 30 MLB teams, at $1.05 billion.
The Rays, whose owner Stu Sternberg purchased the team for $200 million in 2004, said last month they were in exclusive talks with Jacksonville real estate executive Zalupski about a sale.
The team pulled out of a deal with officials in St. Petersburg to build a new stadium, leaving in doubt the club’s future home after the expiration of their lease at the domed Tropicana Field.
Damage from Hurricane Milton tore apart the roof of the stadium last October and has forced the team to play home games for the 2025 season at Steinbrenner Field in nearby Tampa, the pre-season training home of the New York Yankees.
Repairs are being made to Tropicana Field, with hopes the Rays will play there for the 2026 season.
© Agence France-Presse
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