Rays principal proprietor Stu Sternberg lately spoke to Marc Topkin of the Tampa Bay Occasions relating to the membership’s progress in its seek for a brand new stadium and rumors earlier within the 12 months of bids from exterior traders to purchase the crew, with Sternberg offering readability relating to each issues.
Maybe most significantly, Sternberg famous that the Rays are prepared to cowl the prices of greater than half of a proposed domed stadium in St. Petersburg, with the mission estimated to value $1.2 billion in whole. The feedback give followers a window into what the Rays’ whole dedication would possibly appear like if a deal is labored out for the primary time whereas offering an replace on the negotiations, which Sternberg says he’s “extremely optimistic” about. Topkin notes {that a} deal might get completed earlier than the tip of the 12 months.
Such a deal would seemingly depart the Rays owing over $600MM for the stadium, which Topkin notes would open in 2028, the 12 months following the expiration of Tampa’s lease at Tropicana Discipline. Sternberg says that the membership has been in search of traders to boost the required funds in change for a stake within the crew. Topkin provides that these discussions have been the catalyst for inquiries relating to the potential for a sale of th complete crew, and Sternberg has not shut these affords down completely.
Concerning the potential for promoting the crew, Sternberg advised Topkin that he doesn’t intend on promoting and expects to stay the membership’s principal proprietor. That mentioned, Sternberg expressed a willingness to hearken to affords, saying that “whenever you’re speaking about folks elevating doubtlessly lots of of hundreds of thousands of {dollars}, they’re going, ‘Effectively, possibly we will purchase the entire rattling factor.’ In order that they take a run at you.” Sternberg likened his method to inquiries relating to the crew to that of his entrance workplace relating to the membership’s gamers, saying that “if you wish to make a suggestion, I at all times hear” however including that no deal is within the works regardless of the membership receiving loads of affords over time.
Sternberg added that he has no intentions of shifting the crew, although he did concurrently point out that with no new stadium settlement the Rays would seemingly be on the transfer, explaining that he would promote the crew if the membership fails to succeed in a brand new stadium settlement within the Tampa Bay space and that he would anticipate a hypothetical new proprietor to discover relocation for the crew following the expiration of the membership’s present lease in 2027. Luckily for Rays followers, that eventuality appears unlikely to come back to fruition as issues stand. Sternberg describes the negotiations with St. Petersburg as “shifting alongside at a really good tempo” and says that he “really feel[s] fairly good” about the place the talks are at with slightly below 4 months left within the 12 months.
Together with the A’s, who appear all however sure to relocate to Las Vegas within the coming years, the Rays’ stadium scenario has been maybe the most important roadblock to an growth effort by MLB. Commissioner Rob Manfred indicated as lately as final 12 months that he would “love” to see the league broaden to 32 groups, although he’s beforehand famous that the league received’t contemplating increasing past its present 30 groups till stadium points in each Oakland and Tampa are resolved.
With the timeline for growth unsure and costs exceeding $2 billion being floated as a chance, it’s hardly a shock that potential possession teams would even have curiosity in buying and relocating the Rays. Topkin notes {that a} Nashville-based investor explored shopping for the Rays this previous summer time with a possible price ticket of $1.85 billion. Huge as that determine is, it might nonetheless be cheaper than the aforementioned rumored growth charges, lending credence to Sternberg’s suggestion that potential consumers have curiosity in exploring relocation for the franchise.
