MLB Approves Sale, Ending Stu Sternberg’s Long-Time Ownership
ST. PETERSBURG, Fla. – Major League Baseball owners voted unanimously on Monday to approve the sale of the Tampa Bay Rays to a group led by Jacksonville-based real estate developer Patrick Zalupski.
The vote marks the end of Stu Sternberg’s long tenure as principal owner, a period that saw the team win four AL East titles and reach the World Series twice. The transaction is expected to formally close later this week.
The sale comes after a tumultuous year for the franchise, which included a $1.3 billion ballpark project falling through and the team being displaced from its home, Tropicana Field, by Hurricane Milton.
The storm heavily damaged the stadium’s roof last October, forcing the Rays to play their 2025 home games at Steinbrenner Field in Tampa, the spring training home of the New York Yankees. The team had a winning record at their temporary home, but attendance fell significantly.
With the new ownership in place, Baseball Commissioner Rob Manfred stated he expects a new search for a permanent ballpark location to begin in the Tampa and St. Petersburg area.
“I think Florida is the right place for that team. I think that there are opportunities in the Tampa Bay region that can be exploited in order to get a new stadium and keep the team there,” said Manfred to the Associated Press. “They’re going to have the same options that the prior owner had in terms of one side or the other.”
This will be the fourth such search since Sternberg took over in 2005. The previous attempts to build new stadiums were abandoned in St. Petersburg (2007, 2023) and Tampa (2018).
The new leadership will also inherit a team with one of the league’s lowest payrolls. The Rays began the 2025 season with an $81.9 million payroll, ranking ahead of only the Athletics and Miami Marlins.
PREVIOUS REPORT: (September 17, 2025) A major leadership change is underway for the Tampa Bay Rays as presidents Matt Silverman and Brian Auld have announced their resignations in anticipation of the team’s sale. The transaction, which is expected to be finalized within the next two weeks, will usher in a new ownership group and mark a significant turning point for the franchise.
After more than two decades of service, Matt Silverman will conclude his tenure with the Rays upon the sale’s closing. While he will no longer hold a formal role, he will represent current principal owner Stuart Sternberg on an executive advisory board being established by the new owners.
Brian Auld is also stepping down from his presidential role but will remain with the organization as a senior advisor. He will continue to support the ownership and leadership teams throughout the transition and into the future.
In a statement, Silverman reflected on his time with the team, expressing pride in the deep connection the Rays have built with the Tampa Bay community. “It has been one of the greatest joys of my life to serve the Rays and help make a lasting impact on the Tampa Bay region,” he said. “What makes me proudest is seeing how the Rays have become woven into the region’s identity, with a true generational fan base taking shape.”
Auld highlighted the organization’s focus on community and purpose beyond the game itself. “This organization has never only been about the wins and losses, it’s been about heart, purpose, and community,” Auld stated. He expressed gratitude for the team’s dedicated staff and his excitement to continue supporting them in his new capacity.
Further details regarding the sale and the new ownership group will be announced once the transaction is officially completed. The departures of Silverman and Auld signify a major shift as the Rays prepare to embark on a new chapter under fresh leadership.
READ: Team Records, Personal Milestones In Play For A Few Rays
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