Tampa Bay Rays in Talks to Sell Team for $1.7 Billion to Jacksonville Homebuilder
The Tampa Bay Rays may soon have new ownership as the team enters advanced negotiations to sell to a group of investors led by Jacksonville-based homebuilder Patrick Zalupski.
The Rays confirmed the talks on Wednesday, following a report by Sportico, which stated that Zalupski had signed a letter of intent to acquire the Major League Baseball franchise. The proposed deal values the team at $1.7 billion, aligning it with recent MLB sales, including the 2024 sale of the Baltimore Orioles for $1.72 billion.
While the organization acknowledged the ongoing discussions, the terms of the potential sale remain confidential, and no final agreement has been reached.
Zalupski, the founder and CEO of Dream Finders Homes, has grown his company into one of the largest homebuilders in the Southeast. His involvement signals a significant shift for the franchise, which has long debated its future in St. Petersburg and the broader Tampa Bay region.
The prospective sale comes as the Rays pursue a new stadium deal in St. Petersburg’s Tropicana Field redevelopment area, raising questions about how new ownership might influence long-term plans.
The Rays' current ownership group, led by principal owner Stuart Sternberg, has managed the team since 2005. The franchise has remained competitive on the field despite operating with one of the lowest payrolls in Major League Baseball.
No timeline has been announced for the completion of the deal, and league approval would be required before any ownership transition becomes official.
