Stuart Sternberg, owner of the Tampa Bay Rays, is in advanced discussions to sell the franchise to Jacksonville developer Patrick Zalupski for about $1.7 billion. Zalupski has expressed formal interest by signing a letter of intent. Despite the serious nature of the negotiations, a finalized deal is not assured. Sternberg purchased the Rays in 2004 for $200 million and has faced challenges, especially after Hurricane Milton damaged Tropicana Field, complicating his pursuit of public funding for a new stadium.
Rays owner Stuart Sternberg is in advanced talks with Jacksonville real estate developer Patrick Zalupski about a sale of the franchise for approximately $1.7 billion.
While Zalupski has signed a letter of intent to purchase the club, this doesn't guarantee a finalized deal will be reached.
Sternberg has struggled to secure public funding for a new stadium despite years of efforts, which complicates the potential sale.
Hurricane Milton delayed plans for a new stadium, forcing the Rays to temporarily relocate due to damage at Tropicana Field.
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