Patrick Zalupski

The estimated $1.7 billion deal is anticipated to formally close later this week. MLB owners unanimously approved the sale Monday.

The Rays said more information about the sale and the new ownership group will be shared after the deal is completed. It is expected to close within two weeks.

The group’s chief operating officer said the Dreamers still have more than $1 billion in team acquisition capital under letters of intent as it continues pursuit of the Rays or any other MLB team.

Dr. Rick Workman, once the Orlando group's primary financier, is now the third largest investor in the assemblage planning to keep the team in Tampa Bay. Law firm owner John Morgan says he is also out.

The Orlando group said it has a lender for the largest and safest portion of the money needed to buy a baseball franchise. Known as senior debt, it makes it easier and cheaper for the Dreamers to borrow.

Commissioner Rob Manfred says, “I have no reason to quibble with or dispute the reports," about the Rays expected $1.7 million sale to a group led by Jacksonville developer Patrick Zalupski.

With a $1.7 billion agreement in principle with Jacksonville developer Patrick Zalupski, the sale could be completed as early as September, according to The Athletic. The new ownership's preference is to play in Tampa.

With the team negotiating a deal that would make relocation unlikely, the lawyer and investor in the Orlando Dreamers says "the Tampa area does not compare with Orange County" for baseball.

The Rays confirmed that they have begun exclusive discussions with a group led by billionaire Patrick Zalupski that also includes unspecified Tampa Bay investors. The local involvement could mean the team stays in the region.