Rays Owner Facing Pressure to Sell Amid Stadium Deal Uncertainty!

2025-03-10 06:01:17.122

Pressure is mounting on Tampa Bay Rays owner Stu Sternberg to sell the team, amid concerns he might abandon a proposed stadium deal in St. Petersburg. MLB commissioner Rob Manfred and other owners are reportedly trying to convince Sternberg to sell, and the league may even withhold a portion of the Rays' revenue-sharing income to pressure him. Several groups, including one led by former Yankees minority owner Joe Molloy and potentially involving the DeBartolo family (owners of the San Francisco 49ers), are interested in buying the team. Another group, including Tampa businessman Dan Doyle Jr., has also expressed interest. While Sternberg hasn't publicly stated his intention to sell, rumors have circulated in MLB and local business circles. Sternberg has until the end of March to decide on the new stadium deal in St. Petersburg's Historic Gas Plant District, facing several obligations by March 31st. Failure to reach a long-term plan, either through a sale or a new stadium deal, could result in the MLB taking away some of the team's $60 million in revenue-sharing money. Molloy, who confirmed his interest, stated his group would continue with the current stadium plan in St. Petersburg. The Rays' quest for a new stadium has spanned 17 years, further complicated by Hurricane Ian's damage to Tropicana Field, forcing them to play at a Yankees minor league facility this year. Disagreements over funding for the $1.3 billion stadium, with the Rays arguing that a delayed county vote increased costs, have also contributed to the current situation. The Rays planned to contribute $700 million towards the stadium.