Photo: Thomas Barwick / DigitalVision / Getty Images
Tampa, FL - The Tampa Bay Rays have officially been sold to a new ownership group led by Patrick Zalupski, CEO of Dream Finders Homes, the team announced Tuesday.
Major League Baseball approved the sale, making Zalupski the MLB Control Person and co-chair of the team.
He will share co-chair responsibilities with Bill Cosgrove, CEO of Union Home Mortgage, while Ken Babby, CEO of Fast Forward Sports Group, will serve as CEO and oversee day-to-day operations.
Erik Neander will remain President of Baseball Operations.
The ownership group also acquired the Tampa Bay Rowdies, a professional soccer team in the USL Championship.
The Tampa Bay Business Journal reported the purchase price to be approximately $1.7 billion.
Zalupski said the group is honored to take on stewardship of the Rays, emphasizing the team’s history and future potential.
This is the third ownership change in the franchise’s history since it was established in Tampa Bay in 1995.
Under former principal owner Stuart Sternberg, the Rays achieved four American League East titles and appeared in two World Series.
The team has faced ongoing stadium challenges, particularly after damage to Tropicana Field from Hurricane Milton in 2024.
The Rays have been playing home games at George M. Steinbrenner Field in Tampa, and the new owners are expected to continue efforts to secure a permanent stadium solution in the area.
A press conference introducing the new ownership group is scheduled for October 7, 2025, at 10:30 a.m., where additional details about operations, community initiatives, and team plans will be provided.