Tampa Bay Rays New Owners Commit to Local Stadium by 2029

The Tampa Bay Rays have a new ownership group led by Patrick Zalupski, Bill Cosgrove, and CEO Ken Babby, who reaffirmed their commitment to keeping the team in the Tampa Bay area and outlined plans for a new domed ballpark by the 2029 season. The group aims to develop a mixed-use complex including hotels, restaurants, offices, and entertainment venues on a roughly 100-acre site, inspired by Atlanta's "The Battery". They are focused on repairing the hurricane-damaged Tropicana Field for the upcoming season while searching for a permanent stadium location. The new owners emphasize building a sustainable, championship-caliber team and a world-class fan experience, with support for existing leadership like President of Baseball Operations Erik Neander and Manager Kevin Cash. The transition follows a $1.7 billion purchase from former owner Stu Sternberg, who had struggled to deliver a new stadium amid cost and delay challenges. The Rays’ lease at Tropicana Field ends in 2028, making the timely development of a new home crucial for the franchise's future in the region.