Overview
- Jacksonville developer Patrick Zalupski has signed a nonbinding letter of intent to acquire the Rays for about $1.7 billion.
- Zalupski’s group includes Ken Babby, owner of two minor league teams, and Bill Cosgrove of Union Home Mortgage.
- A binding purchase agreement has not been finalized and the deal could still fall apart.
- The Rays have been playing home games at Steinbrenner Field after Hurricane Milton damaged Tropicana Field and derailed plans for a new stadium.
- Despite nine playoff appearances since 2008, the franchise endures low attendance and depends on roughly $60 million in annual MLB revenue sharing.