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In an expected move, Major League Baseball owners unanimously approved the sale of the Tampa Bay Rays on Monday to an ownership group led by developer Patrick Zalupski. The sale is expected to be finalized later this week.
The approval vote, which was confirmed by the league, was first reported by Marc Topkin of The Tampa Bay Times.
The Rays’ current ownership group, led by Stu Sternberg, has owned the team for 20 years. It agreed to sell the team to Zalupski’s group for $1.7 billion this summer. After the sale is finalized, Sternberg and his partners will remain minority owners with a roughly 10 percent share of the team, though they are expected to fully divest their investment in the club in the coming years. They initially purchased the team for $200 million in 2004.
Due to damage to the roof of Tropicana Stadium during Hurricane Milton last year, the Rays have played their home games this season at the spring training stadium of the New York Yankees: George M. Steinbrenner Field. They are expected to return to Tropicana Field next season.
