TAMPA, Fla. (WFLA) — The Tampa Bay Rays have officially been sold to a new owner in an MLB-approved deal, the team announced on Tuesday.
The new ownership group is led by Patrick Zalupski, CEO of Dream Finders Homes, a Florida-based real estate developer. Also part of the group is Bill Cosgrove, CEO of Union Home Mortgage, and Ken Babby, CEO of Fast Forward Sports Group.
The Tampa Bay Business Journal reported that the team was sold for $1.7 billion.
Zalupski will act as the MLB Control Person and co-chair for the team alongside Cosgrove, and Babby will serve as the CEO and oversee day-to-day operations. Erik Neander will continue his role as President of Baseball Operations.
This is the third ownership group of the Rays since 1995. Stuart “Stu” Sternberg became principal owner after the 2005 season.
“Stu himself has said that Patrizia Zalupski, Ken Babby, Bill Cosgrove were the right, this is the right ownership group to take it from here and elevate it another step,” Neander said. “We can win, and we can figure out a way to do it. And it’s because of the people. And by all accounts, Patrick and the group coming in, they care about people, and they recognize the people in the quality that are here. Can we do better? Yes.”
During the end of season press conference Tuesday, Neader said playing at Steinbrenner was no excuse for their 77-85 record. He described playing there as like living on a friend’s couch for six months. He said the Trop is their home, and finding that home is their greatest priority.
“It’s as much as the familiarity. You know you are renting, you are just continuing to learn an environment all year,” Neader said. “Again, it’s not (an) excuse for our record but the Trop is our home. That’s what we’re used to, that’s what we know.”
Construction to the roof of Tropicana Field is ongoing. The team is set to play back at the Trop next season.
“It’s an incredible honor to become the stewards of the Tampa Bay Rays, a franchise with a proud history and a bright future,” Zalupski said. “We are especially privileged to have been chosen by Stu Sternberg as his successors, and we’re all energized by the responsibility to serve Rays fans everywhere and this great game.”
The new group has also taken ownership of the Tampa Bay Rowdies as part of the transaction, the team said.