Rays confirm team is for sale, negotiations ongoing
June 18, 2025 - The Tampa Bay Rays announced Wednesday afternoon that the team has "recently commenced exclusive discussions with a group led by Patrick Zalupski, Bill Cosgrove, Ken Babby and prominent Tampa Bay investors concerning a possible sale of the team." The Sportico website reported earlier Wednesday that Zalupski, a Jacksonville-based developer, has signed a letter of intent to buy the team, but "the deal ultimately might not be completed." Rays president Matt Silverman said the team was not for sale in March. The team stated Wednesday that "neither the Rays nor the group will have further comment during the discussions."