Tampa Bay Rays Owner Under Fire: MLB Threatens Revenue Cuts to Force Franchise Sale
Sarah Johnson
March 10, 2025
Brief
MLB is pressuring Tampa Bay Rays owner Stu Sternberg to sell the team amid stadium deal delays and possible revenue cuts, as multiple investor groups eye ownership.
The Tampa Bay Rays owner, Stu Sternberg, is feeling the heat as Major League Baseball (MLB) Commissioner Rob Manfred and fellow owners reportedly ramp up pressure for him to sell the team. According to a recent report by The Athletic, the league may even resort to slashing the Rays' revenue-sharing income—currently $60 million annually—to force Sternberg's hand.
Why all the fuss? Sternberg has been wavering on a key stadium deal in downtown St. Petersburg, Florida—a deal that's been 17 years in the making. The urgency escalated after Hurricane Milton tore the roof off Tropicana Field last fall, leaving the Rays scrambling for a temporary home for their 2025 season at the Yankees' spring training facility. Talk about awkward.
Sternberg has until the end of the month to decide whether to move forward with the proposed stadium in the Historic Gas Plant District. But here's the kicker: delays in a county vote on stadium bonds have ballooned the project's price tag, and Sternberg doesn't think he should foot the extra bill. The Pinellas County Commission postponed voting on its share of the funding back in November, throwing the entire plan into limbo.
The Rays had initially pledged $700 million toward the new stadium, but now it seems Sternberg might be reconsidering his commitment, adding fuel to the fire for MLB's growing impatience.
Enter the potential buyers. Former Yankees minority owner Joe Molloy has thrown his hat in the ring, leading a group of Tampa Bay-based investors keen on acquiring the franchise. "We have assembled an incredible team that shares our vision," Molloy told the Tampa Bay Times. Meanwhile, Tampa businessman Dan Doyle Jr. is heading up another group vying for the Rays.
As MLB eyes drastic measures to push Sternberg out, the drama surrounding the Rays' future continues to unfold. Whether Sternberg caves to the pressure or digs in his heels, one thing is certain: the Rays' ownership saga is far from over.
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Editor's Comments
This story feels like a mix of high-stakes business chess and soap opera theatrics. Sternberg's hesitation over the stadium deal is understandable—who wants to pay extra for someone else's delays?—but if MLB starts cutting revenue, the gloves are off. Also, can we talk about how the Rays are playing at the Yankees' spring training facility next season? That's like borrowing your rival's garage. Awkward much?
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