T
he Tampa Bay Rays are about to change hands. A $1.7 billion deal with a group headed by Jacksonville real‑estate developer Patrick Zalupski is set to close in roughly two weeks. As the sale nears completion, team presidents Matt Silverman and Brian Auld will step down.
Silverman, who has served the Rays for more than twenty years, will join the new owners on an advisory board. “Serving the Rays has been one of the greatest joys of my life,” he said. “Seeing the franchise become part of the region’s identity, with a generational fan base that now brings families to the ballpark, is something I’m proud of. Under Stu Sternberg’s leadership we energized the community through baseball, and I leave with deep gratitude for players, staff and supporters, and excitement for what lies ahead.”
Auld will also stay on as a senior advisor during the transition. “This organization has always been about heart, purpose and community,” he said. “I’m proud of what we’ve built together and look forward to supporting the team in this new chapter.”
No word was given about the future of baseball‑operations president Erik Neander or the assistant general managers. Neander, who began as an intern in 2007 and became the club’s top baseball executive in 2017, succeeded Silverman when the latter was promoted to president.
Zalupski, founder and CEO of Dream Finders Homes, has a company valued at $3.4 billion and a net worth of $1.4 billion, according to Forbes. Earlier this year Forbes valued the Rays at $1.35 billion, the second‑lowest among MLB teams. While franchise valuation differs from sale price, it offers a useful benchmark.
The Rays have been forced to play home games at George M. Steinbrenner Field this season after Hurricane Milton damaged Tropicana Field. Repairs are underway, with the stadium expected to reopen for the 2026 season.
The team finished the season 73‑78 and is now officially out of postseason contention. With an 80‑82 record last year, the Rays face back‑to‑back losing seasons for the first time since the 2014‑17 stretch.
