Try what’s clicking on FoxBusiness.com.
The Tampa Bay Rays are in “unique discussions” with an funding group in Florida a couple of potential sale of the group.
“The Tampa Bay Rays introduced that the group has not too long ago commenced unique discussions with a bunch led by Patrick Zalupski, Invoice Cosgrove, Ken Babby and outstanding Tampa Bay traders regarding a potential sale of the group,” the group mentioned on Wednesday.
Forbes has the Rays valued at $1.25 billion, which is way more than the $200 million Stuart Sternberg paid for the MLB franchise in 2004.
CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COM
A view of the Tampa Bay Rays emblem throughout an MLB recreation between the Tampa Bay Rays and Kansas Metropolis Royals on Jul. 2, 2024, at Kauffman Stadium in Kansas Metropolis, MO. (Scott Winters/Icon Sportswire by way of Getty Photos)
The Rays are a group that’s at the moment displaced from their dwelling of Tropicana Subject following the injury Hurricane Milton did to its roof in October 2024. They’ve been utilizing the New York Yankees’ spring coaching facility, George M. Steinbrenner Subject, as their dwelling discipline this season.
The franchise initially had plans to construct a brand-new stadium in St. Petersburg, which is the place Tropicana Subject resides, however that $1.3 billion improvement challenge was scrapped in March after Sternburg mentioned the group can be withdrawing that settlement.
As a substitute, St. Petersburg is spending round $55 million to restore the Tropicana Subject roof in hopes the Rays can return in 2026. Nonetheless, town and the Rays have an settlement that runs for 3 years to play at “The Trop,” leaving the group’s future dwelling nonetheless in limbo.
New possession was introduced up by St. Petersburg Mayor Ken Welch when the Rays withdrew from their earlier settlement in March
A normal general aerial view of Tropicana Subject and stadium dome injury from Hurricane Milton on Jan. 11, 2025, in St. Petersburg, Florida. (Kirby Lee/Getty Photos)
“If within the coming months a brand new proprietor, who demonstrates a dedication to honoring their agreements and our neighborhood priorities emerges, we’ll think about a partnership to maintain baseball in St. Pete,” Welch mentioned on the time. “However we won’t put our metropolis’s progress on maintain as we await a collaborative and community-focused baseball accomplice.”
Whereas thought-about a small market in comparison with the opposite groups of their AL East division, the Rays are an intriguing group each season due to their improvement group within the minor leagues who proceed to herald new expertise to impression the main league stage every season.
The Rays have the Twenty eighth-highest payroll in MLB this season ($76.22 million, per Yahoo Sports activities), but they enter Wednesday’s schedule with a 40-33 report – 2.5 video games again of the Yankees for the division lead, whereas proudly owning the highest AL Wild Card spot.
A closeup view of the Tampa Bay Rays emblem on the jersey worn by José Caballero #7 of the Tampa Bay Rays throughout the eighth inning towards the Cleveland Guardians at Progressive Subject on Sept.12, 2024, in Cleveland, Ohio. (Nick Cammett/Diamond Photos by way of Getty Photos)
CLICK HERE TO GET THE FOX NEWS APP
Tampa Bay has additionally made 5 playoff appearances since 2019, together with a loss to the Los Angeles Dodgers within the 2020 World Sequence. Their 80-82 report in 2024 was the worst report below .500 since 2017 the place they completed with the identical mark, making them a franchise that clearly is aware of tips on how to get the job completed on a finances.
Maybe a brand new possession group can pump extra money into payroll as soon as a brand new stadium scenario is discovered.
The Related Press contributed to this report.
Observe Fox Information Digital’s sports activities protection on X, and subscribe to the Fox Information Sports activities Huddle publication.
