The Tampa Bay Rays are at a crossroads, with owner Stu Sternberg considering walking away from a potential stadium deal in St. Petersburg, Florida. Rumors suggest that Major League Baseball (MLB) Commissioner Rob Manfred and some other team owners are urging Sternberg to sell the team. Recently, the DeBartolo family, known for their ties to the San Francisco 49ers, has shown interest. Although Edward DeBartolo Jr. has stepped back from the 49ers, his family’s legacy in Tampa adds weight to their involvement. Also, former Yankees minority owner Joe Molloy is part of a group exploring a potential purchase, though he doesn’t have as much financial influence as DeBartolo.
Another player in the mix is Tampa businessman Dan Doyle Jr., who previously backed out of a bid to acquire the Rays earlier this year but is reportedly seeking another chance.
If the team does change hands, MLB aims to keep the Rays in Florida. Locations like Ybor City and even Orlando are on their radar if St. Petersburg plans fall through. Sternberg has spent 17 years trying to secure a new stadium, and without a clear plan soon, he risks losing some of the team’s revenue-sharing funds. The Rays currently benefit from about $60 million in revenue sharing, vital for their operations.
Two important deadlines are approaching. First, by March 31, Sternberg needs to meet specific obligations to keep the $1.3 billion stadium deal alive. However, he’s hinted that meeting these conditions seems unlikely, pushing the team back to square one in their search for a new stadium partner in Florida. The Rays intended to invest $700 million in the St. Pete project, but rising costs from delays—linked to a recent county vote—may change those plans. Hurricane Milton didn’t help either, damaging their current home, Tropicana Field, and forcing the Rays to play at a minor league facility this season.
Some local officials, like Pinellas County commissioner Chris Latvala, predict a sale is imminent. He believes if Sternberg steps back from the St. Pete deal, it may signal either a reluctance to build a new stadium or financial difficulties that necessitate new ownership.
However, team president Matt Silverman insists that financial resources aren’t the issue. “It’s not about funds. It’s whether committing to this long-term project makes sense,” he said. The looming collective bargaining agreement (CBA) deadline at the end of 2026 could also influence the team’s revenue-sharing situation, potentially hurting the Rays if they don’t have a new stadium deal in place.
In the big picture, the Rays have a lot at stake. If they want to stay relevant in the MLB landscape, they need to navigate their local government, the league, and fellow team owners. The pressure is building as they search for a solution that works for all parties involved. Ask any analyst, and they’ll tell you that building a new stadium can take years, and Sternberg could find it challenging to make that investment if he doesn’t feel the franchise can thrive.
There’s also an underlying urgency for the MLB, which is analyzing expansion opportunities. As Sternberg’s future becomes uncertain, potential buyers are interested, but MLB has no intention of letting the Rays relocate. The league believes the Tampa market still holds promise.
With the value of the Rays steadily rising—from the $200 million Sternberg paid in 2004 to an estimated $1.25 billion today—there’s pressure for him to make a move. As the situation evolves, the eyes of fans and investors alike remain firmly fixed on the future of baseball in Tampa Bay.
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Source linkSan Francisco 49ers, Tampa Bay Rays, MLB, Sports Business
