Prospective buyers of the Tampa Bay Rays begin coming forward

Could the Rays be sold before Opening Day?

Rumors have been swirling about a prospective buyer for the Rays for years, and particularly in the last two weeks.

The Rays are approaching a March 31 deadline to continue or terminate the new stadium deal in St. Petersburg, creating a potential inflection point for selling the team as a new owner may want the team in another city (Tampa or otherwise).

Beginning late last night, buyers began to be identified by various news outlets including The Tampa Bay Times, The Athletic (in an article titled “MLB commissioner, several owners pressuring Stu Sternberg to sell Rays”), and JP Peterson (who has been on the Sell the Rays beat all year).

The good news for local fans is that all three bids are based in the Tampa Bay region. Here’s a breakdown.

Joe Molloy / DeBartolo Family (49ers Enterprises)

The Tampa Bay Times broke the rumor dam by announcing that one of the bids was being championed by local educator Joe Molloy — a former executive of the New York Yankees, including two years in charge; he famously signed off on the decision to draft Derek Jeter. He departed the Yankees organization following his divorce from Jessica Steinbrenner, and previously was part of a bid to buy the Marlins.

According to The Athletic, Molloy is backed by the DeBartolo family, who own the San Francisco 49ers and Leeds United FC. Last month it was reported the 49ers were looking to sell 10% of the team for an influx of cash.

Notably, this bid is interested in keeping the St. Petersburg Stadium Deal.

Dan Doye Jr. (DEX Imaging)

Local businessman Doyle Jr — who founded the company DEX Imaging with his father in 2002, sold the company in 2019, and repurchased it in 2024 — is leading a competing bid, according to The Athletic.

Doyle was the lead investor in a reported $1.85 billion bid for the franchise back in 2023.

Mystery Bid

On the JP Peterson Show, through their attorney Carter McCain, a third group claims to be planning a “24/7 entertainment destination” built around the Tampa Bay Rays, with a vision of mirroring The Sphere’s impact on Las Vegas. According to McCain, purchasing the Rays would not be largest financial outlay of the deal.

Notably, McCain said the group’s bid has been through the MLB Commissioner’s office, and not through direct contact with Sternberg.