The Big Lead

MLB News: Reported sale agreement quells franchise relocation rumors

By J.P. Hoornstra

Tampa Bay Rays third baseman Junior Caminero (13) reacts after being called safe on a double against the Oakland Athletics in the sixth inning at George M. Steinbrenner Field on July 2.
Tampa Bay Rays third baseman Junior Caminero (13) reacts after being called safe on a double against the Oakland Athletics in the sixth inning at George M. Steinbrenner Field on July 2. / Nathan Ray Seebeck-Imagn Images
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The Tampa Bay Rays aren't going anywhere.

That was among the tops takeaway from Monday's news, reported by Evan Drellich of The Athletic, that a group led by Jacksonville developer Patrick Zalupski has an agreement in principle to buy the Rays for about $1.7 billion.

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The Tampa Bay Times reported in June that Memphis hedge fund founder Trip Miller made an undisclosed cash offer for the team, and was prepared to compete with Zalupski’s offer.

In January, a group including Hall of Famer Barry Larkin announced plans to attract an expansion team or relocate an existing franchise to Orlando. One member of the group said at the time he and his minority investors "already secured verbal commitments of nearly" $500 million.

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The possibility of relocation loomed large ever since Hurricane Milton destroyed the roof of Tropicana Field, setting of a chain of events that led to the City of St. Petersburg scuttling plans for a new stadium.

Now, as the Rays play out the 2025 season at a minor league ballpark in Tampa, it appears their ultimate long-term destination is nearly decided.

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The $1.7 billion sale price for one of MLB's smallest-market franchises will come as welcome news to the league's principles — including current Rays owner Stu Sternberg, who bought the team more than 20 years ago for $200 million.

Most likely, Sternberg won't even have to leave town to watch his former team play. According to Drellich, "Zalupski is expected to keep the team in the Tampa Bay area, with a strong preference to be in Tampa rather than St. Petersburg."

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