New Owners of the Rays Promise Renovation and a New Stadium
TAMPA, Fla. – The new owners of the Tampa Bay Rays have announced ambitious plans for the team’s future, including the repair of the hurricane-damaged Tropicana Field, and the search for a new permanent stadium. The group led by Florida-based real estate developer Patrick Zalupski finalized the purchase of the team for $1.7 billion last week. The deal was made with Stu Sternberg, who owned the Rays for 18 years and sought a new stadium for the team. Zalupski, along with executives Ken Babby and Bill Cosgrove, stated at a press conference that the intention is for the team to remain in the Tampa Bay area. Zalupski revealed that a site is being sought in the region that could encompass approximately 100 acres, space that would include retail stores, bars, restaurants, and other amenities, in addition to the stadium. The stadium, as he explained, would be an indoor stadium with a fixed roof.Babby, the team’s new CEO, acknowledged the existing “fatigue” in the area over where the Rays would build a new home, with frequent speculation about a possible move. However, MLB has reiterated its desire for the team to remain in the area. Previously, several sites were considered, such as the Ybor City neighborhood, the grounds of a Tampa community college, and even a former greyhound racing track. “We are looking everywhere. We don’t want to limit ourselves to a single location or site,” said Babby. Meanwhile, work continues at Tropicana Field, whose roof was damaged and suffered significant internal damage last October during Hurricane Milton. Babby reported that, by the end of the week, half of the stadium’s 24 roof panels will have been installed. According to the current lease agreement with the city of St. Petersburg, the Rays are obligated to play at Tropicana Field for three more seasons. The mayors of Tampa and St. Petersburg were present at the press conference. In March, the Rays withdrew from a $1.3 billion project to build a new stadium adjacent to Tropicana Field in St. Petersburg, citing the hurricane and delays that likely increased the cost of the proposal. This led Sternberg to sell the team, which had to pay the New York Yankees $15 million to play this season at Steinbrenner Field in Tampa, the Yankees’ spring training stadium. Zalupski, CEO of Dream Finders Homes Inc., based in Jacksonville, will be the team’s point person and co-chairman along with Cosgrove, CEO of Union Home Mortgage in Ohio. Babby will lead the day-to-day business operations. Babby is CEO of Fast Forward Sports Group, which owns the Jacksonville Jumbo Shrimp of Triple-A, an affiliate of the Miami Marlins, and the Akron RubberDucks of Double-A, a team in the Cleveland Guardians organization. During their time in St. Petersburg, the Rays have struggled with low attendance, although they have had success on the field. The Rays won American League East titles in 2008, 2010, 2020, and 2021 and reached the World Series twice, losing to Philadelphia in 2008 and to the Los Angeles Dodgers in 2020. This year, the Rays failed to make the playoffs with a 77-85 record.“We need a new stadium. I don’t think that’s disputed by anyone. We want to build a sustainable championship team. We are confident that we can succeed in Tampa Bay.”
Patrick Zalupski
