Tampa Bay Rays owner Stu Sternberg is under increasing pressure to sell the team as Major League Baseball (MLB) Commissioner Rob Manfred and other owners are urging a change in ownership.

MLB is reportedly considering extreme measures, such as reducing the Rays' revenue-sharing payments, to compel Sternberg to sell.

MLB Considers Revenue-Sharing Cuts to Force a Sale

MLB Pressures Rays Owner Stu Sternberg to Sell Amid Stadium MLB Pressures Rays Owner Stu Sternberg to Sell Amid Stadium
MIGUEL J. RODRIGUEZ CARRILLO/AFP via Getty Images

The Tampa Bay Rays are now getting $60 million in revenue-sharing money, a vital financial injection for the small-market club. However, according to The Athletic, sources indicate that MLB can cut or even terminate these payments if Sternberg does not proceed with a new stadium agreement.

Sternberg's Hesitation Over Stadium Deal Ruffles Feathers

At the center of the controversy is Sternberg's reluctance over a proposed stadium plan in downtown St. Petersburg's Historic Gas Plant District.

According to Fox News, the Rays have been seeking a new ballpark for 17 years, with the current agreement requiring a $700 million investment from the team. However, increasing construction costs and delays have prompted Sternberg to rethink his financial commitment.

With the Pinellas County Commission tabling a critical vote on funding for stadium bonds last November, the project has been left hanging. Sternberg contends that the added expense need not be put on the shoulders of the team alone, continuing to delay the process.

Hurricane Damage and Temporary Relocation Add to Rays' Problems

The need to replace the stadium surged after Hurricane Milton destroyed Tropicana Field, ripping off part of the roof. Consequently, the Rays will conduct their 2025 home series at the Tampa spring training location of the New York Yankees as a temporary stopgap measure, underlining the compelling need for an enduring solution.

Who Will Buy the Tampa Bay Rays?

If Sternberg is compelled to sell, several high-profile investors have already indicated an interest in buying the team. One of them is former New York Yankees minority owner Joe Molloy, who confirmed his interest to the Tampa 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 said in an interview.

In addition, Tampa businessman Dan Doyle Jr. is said to be part of another investment group seeking to purchase the franchise.

With Sternberg's deadline to decide on the stadium deal looming at the end of the month, MLB's patience is thinning. If he walks away, the pressure to sell will likely mount, potentially resulting in a change of ownership that could change the future of the Rays.