Tampa, Florida – Speculation surrounds the future of the Tampa Bay Rays as pressure mounts on the team’s owner, Stu Sternberg, to consider selling the franchise in light of potential uncertainties regarding a new stadium deal in St. Petersburg. Reports suggest that Major League Baseball Commissioner Rob Manfred and other team owners are urging Sternberg to explore selling the team. The league might take action by reducing the Rays’ revenue-sharing income to incentivize Sternberg to make a decision.
Local interest in acquiring the team has emerged, with groups like one linked to former New York Yankees minority owner Joe Molloy expressing interest in purchasing the Rays. Molloy confirmed his involvement in leading a group of investors based in Tampa Bay who are keen on acquiring the team. Although details about other members of the group remain undisclosed, reports indicate that the family of Edward DeBartolo Jr., owners of the NFL’s San Francisco 49ers, might also be part of the potential acquisition group.
Amidst these developments, Tampa businessman Dan Doyle Jr. is also part of a separate group showing interest in the Tampa Bay Rays. While Sternberg has not publicly indicated a desire to sell the team, rumors within both MLB and local business circles suggest otherwise. The conclusion regarding Sternberg’s decision on the stadium deal in downtown St. Petersburg is expected by the end of the month.
Should the deal not proceed, MLB is contemplating reducing a portion of the $60 million revenue-sharing allocated to the Rays if a viable long-term plan is not established promptly. Discussions around a potential shift in ownership have further intensified as the saga involving the team’s stadium situation unfolds.
The Rays have been engaged in efforts to secure a new stadium for nearly two decades, compounded by recent setbacks such as Hurricane Milton’s damage to Tropicana Field. The team faces a temporary transition to using the Yankees’ minor league facility in Tampa while deliberations continue on the proposed downtown St. Petersburg stadium project. Both Sternberg and local authorities have faced challenges in agreeing on funding for the $1.3 billion project, with obstacles like delayed votes contributing to cost escalations for the endeavor.
In the midst of these uncertainties and financial hurdles, potential investors and stakeholders are closely monitoring the evolving situation, awaiting clarity on the Tampa Bay Rays’ future direction. As the deadline looms for crucial decisions, the baseball community remains attentive to the developments unfolding in St. Petersburg.