• Loading stock data...
Saturday, June 22, 2024

Rays Have New Hope Of Finally Completing Stadium Deal

  • Sternberg looks to get $1.2 billion deal done by year's end
  • If completed, agreement would finally solidify team's long-term future
Kim Klement-USA TODAY Sports

The Tampa Bay Rays have renewed hope for a stadium deal after nearly two decades of fruitless efforts to develop a successor facility to Tropicana Field. 

Rays principal owner Stu Sternberg — who has faced years of criticism over a seeming inability or unwillingness to complete a local stadium deal — said he is “highly optimistic” of finally reaching an agreement on a $1.2 billion ballpark in St. Petersburg by the end of the year. 

Sternberg also said he’s willing to pay more than half of that stadium cost, a notion that has led the owner to seek out investors in return for minority equity in the team. That pursuit, however, has turned into months worth of unsolicited inquiries about buying a majority stake in the Rays — something that doesn’t currently interest Sternberg.

“When you’re talking about people raising potentially hundreds of millions of dollars, they’re going, ‘Well, maybe we can buy the whole damn thing.’ So they take a run at you,” Sternberg said to the Tampa Bay Times.

Beneath Sternberg’s hopeful outlook, though, was a revived threat that the team could ultimately leave the Tampa area if the stadium deal isn’t completed. 

“If I can’t get something done here, the best buyer will be somebody from somewhere else, and the team will be sold,” he said. 

Despite again fielding MLB’s fourth-smallest payroll and ranking 27th in average attendance, the Rays have the American League’s second-best record, are poised for a fifth straight postseason appearance, and haven’t had a losing season since 2017. 

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

TV Companies Losing Subscribers As Sports Rights Deals Continue to Rise

Four major TV provider companies reported huge losses.

Border War Intensifies: Kansas Makes Swift Move to Lure Chiefs and Royals

A bipartisan supermajority of Kansas legislators approve bonding for new stadiums for the Chiefs and Royals.

MLB’s Rickwood Game Plans Change Significantly After Passing of Mays

The special-event game at the historic Negro League park follows the death of the iconic Willie Mays.

U.S. Hosts Copa América: A Milestone in Soccer’s Oldest Tournament

The U.S. hosting of the tournament follows a larger partnership between two major soccer federations.
podcast thumbnail mobile
Front Office Sports Today

How Women’s Sports Media is Charting Its Own Path

0:00

Featured Today

Jan 3, 2022; Pittsburgh, Pennsylvania, USA; General view of the NFL shield logo signage before the Pittsburgh Steelers host the Cleveland Browns at Heinz Field.

Odds Stacked Against NFL in Multibillion-Dollar Sunday Ticket Trial

Why the class action trial does not look promising for the league.
Jan 7, 2024; San Francisco, California, USA; Toronto Raptors forward Jontay Porter (11) takes a three-point shot against the Golden State Warriors during the second half at Chase Center.
June 9, 2024

‘Bound to Happen’: The Age of the Sports Betting Scandal Has Arrived

A banishment, betting scheme, and guilty plea all in one scandal-filled span.
June 8, 2024

‘Experimental in Nature’: The Rapid, Confounding Rise of Streaming Bundles

Here’s why confusion continues to outweigh solutions in the streaming package boom.
June 2, 2024

The Nostalgia Market: Michael Jordan’s Memorabilia Remains Coveted, With Caveats

Due to scarcity, and sometimes, items’ undisclosed whereabouts, this world has limitations.
Everton FC owner Farhad Moshiri stands on the pitch at Goodison Park Stadium.

Another U.S. Takeover? Houston-Based Group in Talks With Everton

The English soccer club continues to look for a new owner.
June 20, 2024

New Koch Stake Values Nets, Liberty Parent at $6 Billion

The Koch family is well known for its conservative political donations.
June 21, 2024

Aces Sell Out Regular-Season Home Games in WNBA First

The Aces’ slow start continues to have no impact on the box office. 
Sponsored

How HOKA is Reimagining the NIL Relationship

HOKA, the renowned athletic footwear and apparel brand, is betting on a new reality with NIL.
June 18, 2024

Grousbeck’s Big Bet: Can Owner’s Spending Keep Celtics on Top?

The high-spending team faces more rising costs heading into its title defense.
June 13, 2024

Done Deal: Utah Hockey Club Unveils Identity, Colors, and Jerseys

The newly established NHL franchise selects a color scheme and temporary name.
June 10, 2024

Real Madrid Flees From Boss’s Claim It Won’t Play in FIFA’s Troubled Club World Cup

Carlo Ancelotti originally said his team won’t play in the U.S. tournament next summer.
Jan 21, 2023; Philadelphia, Pennsylvania, USA; Philadelphia Eagles owner Jeffrey Lurie walks off the field after win against the New York Giants during an NFC divisional round game at Lincoln Financial Field.
June 6, 2024

Report: Jeffrey Lurie Exploring Sale of Eagles Minority Stake

A sale would be based on a $7.5 billion team valuation.