Cole Pepper
A group including the founder and CEO of Jacksonville-based Dream Finders Homes has signed a letter of intent to purchase the Tampa Bay Rays, according to a report by Sportico.
Patrick Zalupski, who founded the home builder company in 2008, took the company public in 2021. According to Forbes, his net worth is $1.4 billion. Zalupski was appointed by Gov. Ron DeSantis to the University of Florida Board of Trustees in 2023.
Among the partners in Zalupski’s group is Ken Babby, owner of the Jacksonville Jumbo Shrimp, a Triple-A team, and the Double-A Akron RubberDucks.
The Rays are owned by Stu Sternberg, who purchased the franchise in 2004 for $200 million. According to the report, the deal values the team at roughly $1.7 billion.
Sternberg has been under pressure from the MLB to sell the team after a stadium deal fell apart and Tropicana Field, the existing home for the Rays, was damaged by Hurricane Milton. The storm forced the team to play this season at the New York Yankees’ minor league stadium, Steinbrenner Field.
The last MLB team to be sold was the Baltimore Orioles, who were purchased for $1.73 billion last year.
A letter of intent does not guarantee a sale.
Earlier this week, a group hoping to bring Major League Baseball to Orlando made a public appearance Monday to discuss their plans. The Orlando Dreamers group includes Jim Schnorf, Dr. Rick Workman and Hall of Fame shortstop Barry Larkin. During the presentation, Larkin trumpeted the stability of having a team in Orlando.
“We have stability,” Larkin said, according to WKMG television. “I don’t know if you’ve seen the rendering to our stadium, but we won’t get rained out. Go down to Tampa in a couple months or a couple weeks and get an opportunity to watch the Rays play — better bring your rain suit.”
