In a recent development, Tampa Bay Rays owner Stu Sternberg is under significant pressure to sell the team. This push comes from MLB Commissioner Rob Manfred and several other team owners.
While no sale is imminent, multiple groups with ties to Florida have shown interest in purchasing the Rays.
The Push for a Sale
Sternberg is facing mounting pressure to sell the Rays, with sources indicating that Commissioner Rob Manfred and several fellow owners are advocating for the change. According to MLB Trade Rumors, there are no immediate plans for a sale, but several groups have expressed interest.
Potential Buyers
The report highlights that multiple groups with Florida connections are interested in purchasing the Rays. These groups include:
- The family of San Francisco 49ers owner Edward DeBartolo Jr.
- Former Yankees minority owner Joe Molloy
- Tampa-area businessman Dan Doyle Jr.
Joe Molloy has confirmed his interest, stating that his group would pursue the current stadium deal with Pinellas County and the city of St. Petersburg.
Stadium Deal Complications
The stadium deal between the Rays and Pinellas County has been fraught with issues. The county delayed a crucial vote after Hurricane Milton, which the Rays claim has increased construction costs.
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The team argues that they should not bear these additional expenses alone, despite the deal stating otherwise.
Upcoming Deadline
A key deadline looms on March 31, just after Opening Day, requiring Sternberg to meet certain obligations to keep the stadium deal alive.
Given the strained relationship between Sternberg and local officials, it seems unlikely that the deal will proceed if this deadline is missed. However, new ownership could potentially revive the deal.
MLB’s Stance on Florida
Despite the financial struggles of both the Rays and the Marlins since their inception in the 1990s, MLB remains committed to Florida as a viable market.
Relocation seems off the table, but alternative locations within Florida, such as Ybor City in Tampa or even Orlando, are being considered if the St. Pete deal falls through.
Financial Pressure Tactics
Manfred has several tools at his disposal to pressure Sternberg, including the commissioner’s discretionary fund and the supplemental discretionary fund.
These funds have previously benefited the Rays, but cutting off these payments could significantly impact the team’s finances.
Future Financial Implications
The Rays already operate on one of the league’s lowest payrolls. Any loss in funding could further strain the team’s financial resources, potentially leading to the sale of key players. The team’s $90 million projected payroll for 2025 ranks among the lowest in the league.
Contractual Obligations
Beyond this season, the only guaranteed contract on the Rays’ books is Ha-Seong Kim’s $16 million player option, apart from the currently unpaid Wander Franco contract.
The team also has several expensive club options on veterans like Yandy Diaz, Brandon Lowe, and Pete Fairbanks for next season.
Valuation and Sale Price
Sternberg has little incentive to lower his asking price for the Rays, which were valued at $1.25 billion last year by Forbes. Even with financial pressure from the league, Sternberg is unlikely to sell at a loss, given the franchise’s increasing value.
Conclusion
The situation surrounding the Tampa Bay Rays and their ownership is complex and multifaceted.
With significant pressure from MLB and other owners, ongoing stadium deal complications, and potential financial repercussions, the future of the Rays remains uncertain.
For more detailed information, you can read the full report on MLB Trade Rumors.
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