Particle.news
Download on the App Store
4 ARTICLES
·
2mo ago

Tampa Bay Rays Owner Faces MLB Pressure to Sell Over Stadium Deal Dispute

Stu Sternberg could lose revenue-sharing funds as MLB pushes for resolution on long-delayed stadium project in St. Petersburg.

Sep 19, 2023; Tampa, FL, USA; Tampa Bay Rays principal owner Stu Sternberg talks with media as the Tampa Bay Rays announced today that a historic agreement has been reached with the City of St. Petersburg and Pinellas County to move forward with a new state-of-the-art ballpark at Tropicana Field. Mandatory Credit: Kim Klement Neitzel-USA TODAY Sports/File Photo
Image
A baseball rests in the grass near home plate at Tampa's Steinbrenner Field, where the Rays will play their regular-season home games this year. The team is displaced pending repairs to Tropicana Field, which sustained damage during Hurricane Milton. (Dirk Shadd/Tampa Bay Times)
Mar 1, 2025; Port Charlotte, Florida, USA; a general view of the stadium during a spring training game between the New York Mets and Tampa Bay Rays at Charlotte Sports Park. Mandatory Credit: Nathan Ray Seebeck-Imagn Images/File Photo

Overview

  • MLB Commissioner Rob Manfred and other team owners are pressuring Rays owner Stu Sternberg to sell the franchise due to stalled negotiations on a new stadium deal.
  • The Rays have been pursuing a new stadium for 17 years, with the latest $1.3 billion proposal delayed by a postponed county vote and rising costs.
  • Sternberg has until March 31 to decide whether to proceed with the stadium project in St. Petersburg's Historic Gas Plant District.
  • MLB is reportedly considering reducing the Rays' $60 million annual revenue-sharing allocation to compel Sternberg to act on the stadium or sell the team.
  • Local investor groups, including one led by former Yankees minority owner Joe Molloy, have expressed interest in purchasing the team if it is put up for sale.