The sale of the Tampa Bay Rays is nearly finished.
A Jacksonville group led by billionaire Patrick Zalupski have agreed to buy the Rays for an estimated price of $1.7 billion, according to The Athletic. The deal is expected to be finalized by September after negotiations took place over the past weeks. The Rays’ principal owner, Stu Sternberg, bought the franchise in 2004 for $200 million.
Earlier this year, Sternberg was “being pressured to sell his team by MLB commissioner Rob Manfred and some other owners,” according to The Athletic.
The beginning of negotiations was first reported by Sportico on June 18. The Rays also released a statement at the time about Zalupski’s intent to purchase the team from Sternberg.
Zalupski intends to keep the team in the Tampa Bay, according to The Athletic. The team is currently playing at the New York Yankees’ spring training home, George M. Steinbrenner Field, due to Hurricane Milton.
Who is Patrick Zalupski?
Zalupski, 44, is the founder, chairman and CEO of Dream Finders Homes. a Florida-based homebuilder. Based in Jacksonville, Dream Finders Homes is one of the nation’s fastest growing homebuilding companies after beginning in 2008.
Prior to DFH, Zalupski was a financial auditor for FedEx’s internal audit department in Memphis, Tennessee. Zalupski is also a University of Florida Board of Trustee member.
According to Forbes, Zalupski, who lives in Jacksonville, has a net worth is $1.4 billion.
Recent MLB team sells
This article originally appeared on Florida Times-Union: Tampa Bay Rays reportedly to be sold by September: Zalupski group paying $1.7 billion
Reporting by Niles Garrison, Jacksonville Florida Times-Union / Florida Times-Union
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