Tampa Bay Rays sale nears $1.7B: Jacksonville billionaire Zalupski poised to buy

The Tampa Bay Rays are on the verge of a $1.7 billion sale to Jacksonville billionaire Patrick Zalupski, founder and CEO of Dream Finders Homes, a company valued at $3.4 billion that has built over 38,000 homes across 10 states.

Current principal owner Stu Sternberg, who purchased the franchise for $200 million in 2004, has faced mounting pressure from MLB commissioner Rob Manfred and other owners to sell the team. Despite the Rays having the third-most wins in MLB since 2008 and nine playoff appearances, the franchise has struggled to secure a new stadium.

"The Tampa Bay Rays have the third-most wins in MLB since the start of the 2008 season, but have failed in their long quest to build a new stadium," sources said.

The stadium plan's collapse has strained relations between Sternberg and local officials, with Tampa Mayor Ken Welch stating, "I have no interest in working with this ownership group. That bridge has been burned." This tension clouds the Rays' future in the Tampa Bay area.

Under Sternberg, the team has maintained a bottom-five payroll but achieved a winning percentage of .545 since 2008.

Zalupski's Dream Finders Homes went public in 2021 and is a major player in the home construction market, positioning him as a financially strong candidate to take over the franchise.

The sale, if completed, would mark a significant increase in franchise value from Sternberg's original $200 million investment, reflecting the growing market for MLB teams despite local stadium challenges.

The deal remains private, but sources confirm advanced talks are underway, signaling a potential new chapter for the Rays under Zalupski's ownership.

The Tampa Bay Rays are nearing a $1.7 billion sale to Jacksonville billionaire Patrick Zalupski, founder of Dream Finders Homes. Current owner Stu Sternberg, who bought the team for $200 million in 2004, faces pressure to sell amid stadium and local political challenges.