Overview

• Formal closing is expected later this week, with Stu Sternberg and partners retaining about a 10% minority stake initially.
• Commissioner Rob Manfred says the new group is expected to restart a regional search for a long-term ballpark site in the Tampa–St. Petersburg area.
• Repairs to hurricane-damaged Tropicana Field continue, with a planned 2026 return after the team played 2025 home games at Steinbrenner Field in Tampa.
• The incoming investor slate includes Ken Babby, Bill Cosgrove, Rick Workman, Dan Doyle and Fred Ridley, with Babby expected to serve as CEO.
• Rays co-presidents Matt Silverman and Brian Auld have stepped down ahead of the transition and will move into advisory roles.