After starting their homestand strongly, the Rays were taken aback when news surfaced that team owner Stuart Sternberg is considering selling off their franchise to outside investment groups who may move it elsewhere. Sources told The Athletic that several groups may be interested in buying it outright and moving it.
https://www.managed-it-tampa.com/who-is-the-ceo-of-tampa-bay-rays
MLB strictly forbids such an action and must rely on local support for smaller markets to operate effectively, so it would be prudent to assess any such move on Tampa and St. Petersburg before making a decision.
1. Stu Sternberg
Sternberg has proven himself an outstanding owner since purchasing his minority stake in the Rays in May 2004. A former Goldman Sachs partner, Stu has made wise investments with the team and developed some of MLB's finest talent both on the front office side as well as playing field.
Sternberg remains dissatisfied with the Rays' stadium situation. On Opening Day, he acknowledged that St. Petersburg is ahead in terms of negotiations but expressed hope that talks between Tampa and St. Pete might move faster should realistic solutions emerge quickly.
Sternberg is being sued by some minority owners who allege he took part in a plan to force them out of their partnership share in the Rays. Robert Kleinert, Markel Gary, the MacDougald Family Limited Partnership and trust bearing Waters' name are filing suit and seek both a jury trial and financial compensation for themselves and any potential victims in this dispute.
2. Dan Doyle Jr.
After 10 seasons at Tropicana Field, the Rays require a new ballpark to attract fans and keep them coming. Unfortunately, however, their valuation has increased since Sternberg acquired them and state legislators are unwilling to fund its construction with taxpayer funds.
Reports indicate that this team has attracted significant interest from prospective buyers both inside and outside Tampa's market, including unnamed groups wishing to relocate it. Local potential buyers include Dan Doyle Jr. of Tampa-based DEX Imaging which leases office technology such as printers and copiers.
Doyle and other minority partners filed a lawsuit against the Rays to allege that Sternberg misappropriated millions of dollars from their investment, in addition to mismanaging it improperly. Additionally, this claim indicates poor team administration.
3. Andrew Friedman
Friedman became the Rays GM after their surprising 2008 run to the World Series defied economic logic, offering him an opportunity to sculpt it however he saw fit. Since then, Friedman has transformed the Rays into one of baseball's cost-cutting teams by capitalizing on their strong farm system and making wise free agent acquisitions; alongside that they now boast one of baseball's lowest cost per run ratings as he leveraged an effective farm system and made strategic free agent acquisitions; his managers such as Joe Maddon (who hired Friedman), Rocco Baldelli and Charlie Montoya have all worked under him before leaving before taking up new jobs elsewhere in different capacities.
Friedman is an investor on Wall Street who graduated from Tulane University on a baseball scholarship before working at Spear, Leeds & Kellogg and Goldman Sachs. Additionally, he serves on MLB's Ownership Committee and Diversity and Inclusion Board while sitting on Moffitt Cancer Center's board of advisors – estimated worth: around $1 billion.
4. Matt Silverman
Even as the Rays enjoy recent success on the field, their relationship with Tampa remains tenuous; there have been persistent reports that the team might relocate.
According to The Athletic, an outlet owned by New York Times Publishing Groups LLC, Sternberg has been approached by both within and outside his local market for proposals involving moving the franchise out to Montreal. One group involved includes unnamed individuals attempting to convince him otherwise.
Silverman was previously a partner in Goldman Sachs' merchant banking division and assisted Sternberg's purchase of controlling interest in the Tampa Bay Devil Rays, later changing to the Tampa Bay Rays when Silverman took control in 2008. Since then he has led them on an impressive winning run, including last-place-to-World Series run in 2008. Additionally he serves on Starting Right, Now board which offers homeless youth help in realizing their potential.
5. Joe Maddon
Joe Maddon's remarks regarding his resignation as manager of the Angels has caused much dismay among baseball's decision-makers, yet his statements seem to be garnering interest from teams looking to hire him as their manager in 2019.
The Rays boast one of the lowest payrolls in MLB and recently made it all the way to the World Series, but their ownership faces legal action from minority shareholders Robert Kleinert, Gary Markel and Stephen M. Waters (holding together 9.6 percent). According to Kleinert et al, corporate reorganizations stripping shareholders of value is responsible for this suit against them; which has been denied by them and seeks jury trial and receivership oversight of franchise. A hearing will take place October 9th.