The new owners of the Tampa Bay Rays said Tuesday they are committed to fielding a winning team and to building a new ballpark that would secure the franchise’s long-term future in the region.
Key members of the ownership group, led by Florida-based business executive Patrick Zalupski, met with the media for the first time since closing on the purchase of the Rays on Sept. 30.
“This moment is not just about ownership,’’ said Zalupski, the MLB Control Person and Co-Chair of the Rays. “It’s about stewardship. We recognize the deep responsibility we now carry: to deliver a winning team on the field as Rays fans are accustomed to and deserve, and an unforgettable experience for our fans. That’s a commitment we make with humility, with pride, and with great anticipation.’’
Zalupski thanked Major League Baseball Commissioner Rob Manfred and other MLB team owners for their encouragement and support through the process of purchasing the Rays. He also thanked former Rays principal owner Stuart Sternberg “for building a franchise that is known for its innovation and success, and for trusting our group to carry that legacy forward.’’
Zalupski said the ownership’s goal is to have a new ballpark in Tampa Bay ready for Opening Day 2029. He said the Rays are open to any viable locations that meet the group’s criteria and are already studying options in the region.
Also speaking at the news conference were Rays Co-Chair Bill Cosgrove and Ken Babby, the Rays Chief Executive Officer who will oversee day-to-day business operations of the club.
“I’ve always been a fan of the game, and I’ve long admired the Tampa Bay Rays — not just for their remarkable success on the field, but for the way they’ve built that success,’’ Cosgrove said. “The Rays are woven into the fabric of this region. They represent something special — not just in baseball, but in the lives of the people who call this place home.’’
Babby said the Rays are looking forward to Opening Day 2026 in St. Petersburg at a refurbished Tropicana Field, which was damaged by Hurricane Milton in 2024. The Rays played the 2025 season at George M. Steinbrenner Field, the spring training home of the New York Yankees in Tampa.
“We promise the fan experience will be better than ever — with a new roof, new video board, a new sound system, and other improvements, including some funded directly by the Rays,” said Babby. “Tropicana Field is truly going to look better than it ever has, and we are excited to share that with our fans.”
Zalupski and Cosgrove have established an executive advisory board comprised of select investors of the broader ownership group including Dr. Rick Workman, the Hertz Family, Will Weatherford, Robert Skinner, Dan Doyle Jr., and Matt Silverman. Fred Ridley will serve as an independent member of the executive advisory board. Babby said the Rays will continue to invest in the Tampa Bay Region through the Rays Baseball Foundation and various volunteer efforts. He said the ownership group is committed to having the Rays continue to be engaged community partners.
“A baseball team is more than an organization that sells hot dogs, popcorn and beer,’’ Babby said. “A great team uses its platform to celebrate great works in the community and to pitch in when the community needs help. The Rays have strong bonds throughout Tampa Bay, and we look forward to maintaining and strengthening those relationships — and creating new ones.’’
As part of the transaction, the Tampa Bay Rowdies, a USL Championship league team, also has been acquired. Babby said the Rays have no plans to sell the Rowdies, and the group looks forward to supporting the organization, staff and fans as part of the new ownership structure.
A robust group of limited partners with deep connections to the Tampa Bay region has joined the overall ownership group and are listed below.
