Dream Finders Homes CEO Patrick Zalupski is leading a group that recently signed a $1.7 billion offer to buy the Tampa Bay Rays. Bill Cosgrove and Ken Babby are the other main investors backing the deal.
The amount far exceeds the $200 million Stuart Sternberg paid back in 2004. During his ownership, the team dropped "Devil" from their name and made their first World Series appearance just four years later.
These talks come as the team faces problems at home. After Hurricane Milton damaged Tropicana Field's roof, they've had to move to the Yankees' spring training facilities in Tampa.
St. Petersburg officials have put aside $55 million for repairs, hoping to get baseball back by 2026. Mayor Ken Welch told Sports Daily, "If new ownership emerges committed to honoring agreements and community priorities they would consider partnering to keep baseball in St Pete."
This possible sale comes after plans fell through for a $1.3 billion stadium next to their current home. Sternberg dropped those plans in March, blaming storm damage and growing issues.
Previous attempts to change ownership got stuck in legal fights between minority owners over control and money matters. Last year, Dan Doyle Jr. and hedge fund boss Trip Miller tried to buy the team.
Stadium problems have bothered the Rays since they started in 1998. A failed plan to split games between Florida and Montreal shows they're still looking for a permanent solution.
As someone with real estate experience, Zalupski might bring new ideas to solve the stadium problem. His Jacksonville company has built homes all across Florida.
Though papers are signed, the deal isn't final yet. Both sides are staying quiet while they work out the details.
