There’s growing pressure for Rays owner Stu Sternberg to sell the ballclub amid consideration that he may back out of a stadium deal in St. Petersburg.
Both MLB commissioner Rob Manfred and other owners have been trying to convince Sternberg to offload the team and the league could take away part of the Rays’ revenue-sharing income to try and force his hand, The Athletic reported Sunday.
Several local groups, including one with ties to former Yankees minority owner Joe Molloy, are already interested in trying to buy the team.
Molloy confirmed his interest in an interview with the Tamp Bay Times.
“Yes, I’m leading a group of prominent Tampa Bay-based investors who are interested in acquiring the Tampa Bay Rays. We have assembled an incredible team that shares our vision,” Molloy told the outlet.
He would not divulge who else is involved with his group, but The Athletic reported that the family of Edward DeBartolo Jr. — which owns the NFL’s San Francisco 49ers — was also part of the group.
Tampa businessman Dan Doyle Jr. is also part of another group interested in the Rays, according to the report.
Sternberg has not expressed an interest publically in selling the team, but the Tampa Bay Times reported that rumors had been swirling in both MLB and local business circles.
The current Rays owner has until the end of this month to decide whether to continue with the new stadium deal in the Historic Gas Plant District in downtown St. Petersburg.
Sternberg has several obligations that he has to meet by March 31 for the stadium plan to continue.
MLB is said to be looking at taking away some of the $60 million of the team’s revenue-sharing money down the road if a long-term plan — whether that’s selling the team or building a new stadium — isn’t figured out.
Molloy said that he would like to continue with the current planned project for a new stadium in St. Pete’s if his ownership group took over the team.
“What I can say now is this: The team has plans to stay in St. Petersburg, and we are fully committed to building on the great work that the city and county have already accomplished. We are incredibly excited about this opportunity, and that’s all I can share at this time,” he said.
The Rays have been trying to build a new stadium for 17 years and their situation was only made worse when Hurricane Milton damaged Tropicana Field to the point that the team will have to play at least this year in the Yankees minor league facility in Tampa.
Sternberg and local officials have spent the winter bickering over funding for the $1.3 billion stadium.
The team is arguing that a delayed county vote led to a delay that has increased the cost of the project, and the Rays don’t feel they should have to contribute money because of the holdup.
The organization planned to contribute $700 million toward the downtown St. Petersburg stadium.
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