"In the middle of July, Stu Sternberg agreed to a sale of the Rays to Jacksonville-based real estate developer Patrick Zalupski for around a $1.7 billion purchase price. Sternberg won't immediately leave the organization completely, however. Evan Drellich and Ken Rosenthal of The Athletic report that Sternberg and other current partners will retain an approximate 10% stake in the franchise in the short term. Sternberg is still expected to eventually depart the organization entirely, but that won't happen concurrent with this month's sale."
"The transaction has been expected to be finalized in September. That timeline is still in place. Drellich and Rosenthal write that the sale should be complete around the end of the regular season. Zalupski's group is expected to keep the franchise in the Tampa area, preferably with a new stadium to be built in Hillsborough County. (Tropicana Field, located in St. Petersburg, is in Pinellas County.) Nina Moske of The Tampa Bay Times wrote this afternoon that one site under consideration is at Hillsborough College."
Stu Sternberg agreed to sell the Rays to Jacksonville-based real estate developer Patrick Zalupski for around a $1.7 billion purchase price. Sternberg and other current partners will retain an approximate 10% stake in the franchise in the short term. Sternberg is expected to eventually depart the organization entirely, but not immediately with the sale. The transaction is expected to be finalized in September, likely around the end of the regular season. Zalupski's group intends to keep the franchise in the Tampa area and prefers a new stadium in Hillsborough County, with Hillsborough College considered as one potential site. The previous stadium deal with Pinellas County collapsed after funding requests following hurricane-related delays. The club's lease at Tropicana Field runs for three seasons from whenever The Trop becomes playable.
Read at MLB Trade Rumors
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