Rays owner facing pressure from Rob Manfred, other owners to sell team after new stadium snag
There’s growing pressure for Rays owner Stu Sternberg to sell the ballclub amid consideration that he may back out of a stadium deal in St.Petersburg. Both MLB commissioner Rob Manfred and other owners have been trying to convince Sternberg to offload the team and the league could take away part of the Rays’ revenue-sharing income to try and force his hand, The Athletic reported Sunday. Several local groups, including one with ties to former Yankees minority owner Joe Molloy, are already interested in trying to buy the team. Molloy confirmed his interest in an interview with the Tamp Bay Times. “Yes, I’m leading a group of prominent Tampa Bay-based investors who are interested in acquiring the Tampa Bay Rays.
We have assembled an incredible team that shares our vision,” Molloy told the outlet. He would not divulge who else is involved with his group, but The Athletic reported that the family of Edward DeBartolo Jr.— which owns the NFL’s San Francisco 49ers — was also part of the group. Tampa businessman Dan Doyle Jr.
is also part of another group interested in the Rays, according to the report. Sternberg has not expressed an interest publically in selling the team, but the Tampa Bay Times reported that rumors had been swirling in both MLB and local business circles. The current Rays owner has until the end of this month to decide whether to continue with the new stadium deal in the Historic Gas Plant District in downtown St.Petersburg. Sternberg has several obligations that he has to meet by March 31 for the stadium plan to continue. MLB is said to be looking at taking away some of the $60 million of the team’s revenue-sharing money down the road if a long-term plan — whether that’s selling the team or building a new stadium — isn’t figured out. Molloy said that he would like to continue with the current planned project for a new stadium in St.
Pete’s if his ownership group took over the team. “What I can say now is this:...