Tampa Bay Rays Ownership Sale Nears Completion with Ybor City Stadium Plans in Focus
The Tampa Bay Rays are on the verge of a historic ownership change, with the $1.7 billion sale to Jacksonville developer Patrick Zalupski expected to finalize by late September or early October 2025. As negotiations enter the final stretch, sources confirm that Zalupski’s group strongly favors building a new stadium in Tampa’s vibrant Ybor City district—reviving long-standing hopes for a centrally located, fan-friendly ballpark.
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With Tropicana Field damaged by Hurricane Milton and the previous St. Petersburg stadium deal collapsed, the Ybor site offers unmatched accessibility, community support, and redevelopment potential. If approved by MLB owners, the new ownership could usher in a bold new era for the Rays—on and off the field.
Here’s what we know:
The Deal
- Buyer: A group led by Jacksonville home developer Patrick Zalupski
- Price: Approximately $1.7 billion
- Seller: Current owner Stu Sternberg, who bought the team in 2004 for $200 million
Status
- A letter of intent has been signed
- The deal is in exclusive negotiations
- MLB approval from 75% of team owners is still required before it becomes official
Stadium Complications
- Tropicana Field was severely damaged by Hurricane Milton last fall, forcing the Rays to play at the Yankees’ spring training facility in Tampa this season
- A previous $1.3 billion stadium deal in St. Petersburg collapsed, but Zalupski’s group reportedly prefers to keep the team in Tampa proper, not St. Pete
Yes, the incoming ownership group of the Tampa Bay Rays—led by Jacksonville developer Patrick Zalupski—is reportedly leaning toward Ybor City as the preferred site for a new stadium.
Why Ybor City Is the Front-Runner
- Location Advantage: Ybor City sits in the heart of Tampa, offering better accessibility for fans compared to St. Petersburg.
- Community Support: A recent Axios poll showed 43% of local readers favor Ybor Harbor over other Hillsborough County options like the Florida State Fairgrounds.
- Mixed-Use Potential: The site is part of a larger redevelopment effort (Gasworx) aimed at connecting Ybor City to downtown Tampa, making it ideal for a year-round entertainment district.
- Political Backing: Tampa City Council members and Hillsborough County officials have voiced strong support for the Ybor site, calling alternatives like the fairgrounds “dead on arrival”.
Stadium Vision
While no formal stadium plan has been announced yet, the Ybor proposal could revive elements from the 2018 concept, which featured:
- A translucent roof
- Sliding glass walls
- Seating for around 30,000 fans
- Estimated cost: $892 million
The site remains available, and developers have signaled interest in re-engaging if the Rays commit to building there.
If the sale closes in September or October as expected, we could see formal stadium plans emerge by the end of the year. Want a visual breakdown of the proposed Ybor layout or a comparison to other MLB stadium projects? I can map that out next.
What’s Next
If all goes smoothly, the Rays could have new ownership in place before the postseason begins. Fans are hopeful this marks a turning point for the franchise—especially in securing a long-awaited new stadium.
