A Jacksonville group led by billionaire Patrick Zalupski have agreed to buy the Rays for an estimated price of $1.7 billion, according to The Athletic. The deal is expected to be finalized by September after negotiations took place over the past weeks. The Rays' principal owner, Stu Sternberg, bought the franchise in 2004 for $200 million.

The deal is worth about $1.7B and is expected to be completed as soon as September. The report adds that Zalupski plans to keep the club in the Tampa area, with a preference for Tampa proper over St.

The team has agreed to a deal in principle with Jacksonville developer Patrick Zalupski for roughly $1.7 billion.