Overview

• The Sept. 30 closing follows unanimous approval by MLB owners, marking the franchise’s third ownership group after Vince Naimoli and Stuart Sternberg.
• Patrick Zalupski becomes MLB control person and co-chair, Bill Cosgrove serves as co-chair, Ken Babby is CEO overseeing business operations, and Erik Neander remains president of baseball operations.
• The transaction includes the Tampa Bay Rowdies, and an executive advisory board will feature select investors and independent member Fred Ridley, with additional limited partners to be named.
• The team did not disclose the price, though multiple outlets reported a valuation near $1.7 billion, and Sternberg retains a minority stake represented on the advisory board.
• Ballpark decisions remain unresolved as the club eyes a return to repaired Tropicana Field in 2026 under a use agreement that runs through 2028.