Overview

• Owners voted unanimously on Monday to approve the transfer, with closing expected later this week pending Federal Trade Commission clearance and the transfer of funds.
• Stuart Sternberg and partners will initially retain about a 10% minority stake, and longtime team presidents Matt Silverman and Brian Auld are moving into advisory roles.
• Commissioner Rob Manfred expects a new stadium site search in the Tampa–St. Petersburg region, with Tampa/Hillsborough locations under evaluation and no relocation anticipated.
• The investor group includes Ken Babby, Bill Cosgrove, Rick Workman, Dan Doyle and Fred Ridley, with Babby reported to become the club’s CEO.
• After Hurricane Milton damaged Tropicana Field, the Rays played 2025 at Steinbrenner Field; repairs target a 2026 return under a lease that runs through 2028.