The Tampa Bay Rays‘ $1.7 billion sale to a Jacksonville developer-led group could be finalized within the next two weeks, team officials announced Wednesday.

The buyer group is headed by Dream Finders Homes CEO Patrick Zalupski, who entered exclusive negotiations with current owner Stuart Sternberg’s group in June.

Two major leadership changes accompany the pending sale. Team President Matt Silverman will leave after 20 years with the organization and will not have a role with the new ownership. President Brian Auld will also step down but remain as a senior advisor during the transition.

The sale comes amid ongoing stadium uncertainty. The Rays abandoned plans for a new St. Petersburg stadium earlier this year due to increased costs. Hurricane Milton damaged Tropicana Field, forcing the team to play 2025 home games at Tampa’s Steinbrenner Field.

The prospective new ownership is considering multiple stadium locations, including sites at Hillsborough Community College near Raymond James Stadium and in Ybor City, according to county officials.

The Rays’ lease at Tropicana Field runs through 2028, with St. Petersburg working to complete repairs for a potential 2026 return.

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(Image credit: Tampa Bay Rays)

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