The future of the Tampa Bay Rays continues to be in limbo as it discusses potentially selling the team.
The Rays confirmed on Wednesday in a statement that it began exclusive discussions with a group led by Jacksonville home builder Patrick Zalupski, Bill Cosgrove, Ken Babby and "prominent" Tampa Bay investors concerning a possible sale.
The team did not specify which Tampa Bay investors and added that neither the Rays nor the group has further comment.
It is also not known whether the team would be moving to Jacksonville or staying in the Tampa Bay area.
The news was first reported by Sportico, which wrote that Zalupski signed a letter of intent and that the deal values the team at roughly $1.7 billion.
Zalupski is the founder, president, and CEO of Dream Finders Homes in Jacksonville. He is also a University of Florida Board of Trustees member, and his term expires in 2028.
Ken Babby, is the owner of the Jacksonville Jumbo Shrimp, a minor-league baseball team and Triple-A affiliate of the Miami Marlins.
The Rays have been looking for a new home after their contract at Tropicana Field in St. Petersburg ends in 2028. They've been playing this season in Tampa at the Yankees' Steinbrenner Field spring training complex after Hurricane Milton ripped off Tropicana Field's roof late last year.
Back in March, owner Stu Sternberg pulled out of an agreement to build a $1.3 billion stadium as part of a redevelopment project for the Historic Gas Plant District.
ALSO READ: St. Petersburg's mayor, other officials disappointed after Rays nix stadium agreement
Following that decision, St. Petersburg Mayor Ken Welch said he was done negotiating with Sternberg but was open to new ownership if the Rays were sold. At the time, team president Matt Silverman said the franchise was not for sale.
“If in the coming months a new owner, who demonstrates a commitment to honoring their agreements and our community priorities emerges, we will consider a partnership to keep baseball in St. Pete. But we will not put our city’s progress on hold as we await a collaborative and community-focused baseball partner,” Welch said.
Major League Baseball Commissioner Rob Manfred also reaffirmed a commitment to the Tampa Bay area in March, but wanted Sternberg to come up with a "go-forward" plan to get a stadium built in the region.
Pinellas County Commissioner Chris Latvala speculated over X that he would not be shocked if there ends up being a short-term lease at Tropiciana Field. He said he's heard there may be something happening in Tampa. And if there's a new owner who wants to resurrect the St. Petersburg deal, he would vote for it again.
In a separate post, Latvala also said that all indications were that Manfred never wavered on his commitment to the Tampa Bay area.
Gov. Ron DeSantis, who appointed Zalupski to UF's Board of Trustees, said in late May that MLB officials told him the Rays would not be allowed to leave the state. He added that leaving Florida would make "baseball look poorly that they couldn't hack it in really big markets."
“I think they understand that this is the fastest-growing state,” DeSantis said. “It's the third-largest state in the country. To have a major-league team leave, like, that's not something we want, obviously, but actually (it) is bad for the league.”
The governor also conveyed that different leadership may be beneficial.
ALSO READ: DeSantis says MLB wants the Rays in Florida, but no state money will go toward a stadium
“Now, the Rays do need a new stadium. I think everybody understands that. I know that the current owner basically does not have a path forward in Pinellas County," DeSantis said. "I think the goal would be, if there's a new owner, to then have an ability to do a stadium in a place that would be economically viable. And I think you can do it. I absolutely think it can work.”
Orlando has been discussed as a potential location for an MLB team, whether that be the Rays or an expansion franchise.
The Rays could also ultimately decide not to sell to Zalupski's group or even at all. But one thing is clear: there is an ongoing fight to keep MLB in the Sunshine State — wherever that may be.
WUSF's Rick Mayer contributed to this report.
