Tampa businessman interested in buying Rays, keeping them in St. Pete

Tampa businessman Joe Molloy is leading a Tampa-based group seeking to buy the Rays and pursue the planned St. Petersburg stadium deal.

Molloy confirmed his group’s interest to the Tampa Bay Times on Sunday night.

“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.

Molloy declined to name any of the members of his group, saying all had signed non-disclosure agreements.

According to The Athletic, Molloy’s group includes a member of the Tampa-based DeBartolo family, which has roots in pro sports and commercial development.

Molloy did indicate that his group is interested in pursuing the current planned downtown St. Petersburg stadium deal that is part of the massive redevelopment of the Historic Gas Plant District.

“What I can say now is this: The team has plans to stay in St. Petersburg, and we are fully committed to building on the great work that the city and county have already accomplished. We are incredibly excited about this opportunity, and that’s all I can share at this time.”

St. Petersburg City Council chairperson Copley Gerdes said he is aware of the group’s interests and is impressed with their resources.

“If the Rays are for sale, then I think the group they have assembled is capable and has the means to continue the legacy of Major League Baseball in St. Pete,” Gerdes said. “I’m a fan of anybody interested in St. Pete and willing to bet on St. Pete.”

Gerdes acknowledged there is also rumblings of a second ownership group that is interested in moving the team to Tampa.

“The Rays have been successful so that automatically is going to lead to suitors both locally and non-locally,” he said. “That does not surprise me at all.”

Rays principal owner Stuart Sternberg has not said he is looking to sell the team, though there have been rumors circulating about that possibility in both Tampa Bay business and Major League Baseball circles.

The Athletic has reported that Sternberg is being pressured by MLB Commissioner Rob Manfred and some other owners to sell the team.

Sternberg has a March 31 deadline to decide if he wants to proceed with the new stadium deal.

Molloy, who turns 64 this week, has previous MLB experience. He spent 10 years as an executive with the Yankees, including a two-year run as managing general partner during and after the time George Steinbrenner was suspended by the league from March 1992-93. Molloy then served as a general partner for four years. He was married to Steinbrenner’s daughter Jessica at the time. Molloy has been a longtime educator in the Tampa Bay area.

Times sports columnist John Romano contributed to this report.

• • •

Sign up for the Sports Today newsletter to get daily updates on the Bucs, Rays, Lightning and college football across Florida.

Never miss out on the latest with your favorite Tampa Bay sports teams. Follow our coverage on Instagram, X and Facebook.