Immense pressure mounts on the Tampa Bay Rays’ owner. The reason? MLB commissioner Rob Manfred, along with a few other teams, has been pushing Stuart Sternberg to sell the franchise or build a new ballpark in Florida. While Sternberg has also been offered a decision to consider ownership change, it looks like the situation that intensified over the past couple of years has suddenly come to a critical juncture.
Stuart Sternberg holds the majority of shares of the ownership group that owns the Tampa Bay Rays. Not only has Sternberg been the club’s managing general partner since 2005, who bought the team for $200 million that time, but he also holds 48% ownership share. After all these years, the Rays’ worth is estimated to be $1.25 billion currently. Sternberg’s leadership paved the way for the Rays to tackle financial constraints easily while maneuvering through player development, operational efficiency, analytics, and more. Now with Manfred turning up the heat, what lies ahead for Sternberg?
Stuart Sternberg has played a major role in the transformation of the Rays. It’s not just about taking control, but also the way he emphasized the scouting process, farm system, analytics, and all. And that’s what made him special. Now, as per the post on X by Foul Territory, Evan Drellich, senior writer of the Athletic, said, ”MLB commissioner Rob Manfred and some owners are pressuring Stu Sternberg to sell the Tampa Bay Rays.” With pressure and uncertainty looming on him regarding whether to sell the franchise or leave the ownership, two high-stake bidders expressed interest in purchasing the Tampa Bay Rays, throwing out their $800 million owner. So who are they?
MLB commissioner Rob Manfred and some owners are pressuring Stu Sternberg to sell the Tampa Bay Rays, per @EvanDrellich. pic.twitter.com/eJiCDY09Q1
— Foul Territory (@FoulTerritoryTV) March 10, 2025
One of the investor groups is represented by Attorney Carter B. McCain, who plans for a new ballpark as part of the entertainment destination. If McCain gets the deal done, then the new ballpark will feature hotels, restaurants, outdoor music venues, and more, which will be a one-stop destination for many and gradually bring people in huge numbers all throughout the year. On the other hand, as per the Tampa Bay Times news, another group is managed by a big business named Joe Molloy, who seems to be fine with the existing deal.
Meanwhile, Chris Latvala, Pinellas County Commissioner, has also joined hands with Rob Manfred. And, when asked about whether a new owner can continue with the current deal, he said, “I think with Stu, that would be impossible. But I think, you know, with a new owner, let’s see what happens.” Although nothing is confirmed yet, it is yet to be seen whether any of the bidders outclass Stuart Sternberg or if there are some more surprises as well.
The Tampa Bay Rays are finally at the crossroads
While the Tampa Bay Rays now stand at a pivotal juncture where several decisions will shape the future of the franchise, Rob Manfred’s building pressure on Stuart Sternberg seems to be bringing an end for him. Although the sudden call for investing in infrastructure or ownership change indicates a bigger goal for the franchise to thrive in the market, any final decision made will have intense implications for the team as well as the fan base. More importantly, the power that MLB has on the Rays lies in the CBA.
Due to this, right after it’s expiry in 2026, Manfred might transform the entire revenue-sharing system, which would ultimately result in leaving the Rays with much less money coming from other teams. Isn’t it? Definitely! However, the Rays might just get sold for a higher value in case the team gets relocated. But there’s a problem: MLB does not want the Rays to move out of the market, thinking they still have a lot to offer. Meanwhile, they also do not want to give up on the expansion opportunities to cities like Nashville, Portland, or even Salt Lake City.
However, it all comes down to what MLB wants and the owners, and not just Sternberg. While few owners might show resistance to expanding until the A’s relocation to Las Vegas, it cannot be ignored that the Rays, whatever their fate, will still rake in huge amounts.
Do you think Rob Manfred’s move will ultimately result in Sternberg’s departure, and what lies ahead for the Rays? Share in the comments below.
The post 2 High-Stakes Bidders Emerge to Oust $800M Rays Owner as Manfred Turns Up the Heat appeared first on EssentiallySports.
