Stu Steinberg is in \"advanced talks\" to sell the Tampa Bay Rays to a Florida-based residential developer, according to Sportico. Steinberg purchased the Rays in 2004 for $200 million while the anticipated deal values the club at $1.7 billion.
Patrick Zalupski has signed a letter of intent to purchase the Rays. Zalupski, who has a net worth of $1.4 billion, is the founder and CEO of Dream Finders Homes, a company that specializes in home construction for first-time buyers.
\"The Tampa Bay Rays announced that the team has recently commenced exclusive discussions with a group led by Patrick Zalupski, Bill Cosgrove, Ken Babby and prominent Tampa Bay investors concerning a possible sale of the team. Neither the Rays nor the group will have further comment during the discussions.\"
With Tropical Field currently damaged following Hurricane Milton, the Rays are playing the 2025 season at George M. Steinbrenner Field in Tampa.
The Baltimore Orioles were the most recent team to be sold when David Rubenstein led a group that paid $1.73 billion.
