Two investors are competing to buy the ray. who are they?

Over the years, the Tampa Bay Rays have accumulated a long list of owners.

The team’s constant and uncertain future led to breaking up with many suitors. Owner Stuart Sternberg has all his cards closed.

However, the Rays changed the tone “as regards the possibility of a team selling” this week when they announced that the team was in “exclusive discussion” with a group led by Jacksonville developer Patrick Zarapski. Recently in March, the Rays said their team wasn’t on sale.

Zalupski has brought together a group of investors including Bill Cosgrove, CEO of Union Home Mortgage, which sponsors the Gasparilla Bowl of College Football at Raymond James Stadium. And Ken Bubby, who owns two minor league baseball teams.

But Zalupski has a competition.

He submitted a letter of intent to buy the team for $1.7 billion. However, the letter has an expiration date. And if that deal falls apart, Memphis Hedge Fund founder Travel Miller is waiting on the wings.

So who are these wealthy men making jokes to get the chance to take over Tampa Bay baseball?

Here’s what we know about them:

Patrick Zarapsky

According to Forbes, 44-year-old Zalpski was born outside of Detroit, but has lived in Florida for the rest of his life. He graduated with a finance degree from Stetson University and has lived in Duval or St. John’s County for at least the past decade, voter registration records show.

He founded Dreamfinders Homes in 2008. This marks the year that begins in the home building industry. But when the Great Recession faded, the company boomed, selling over 31,000 homes in nine states, according to its website.

However, it was only past years that Salpski saw his wealth and influence.

Four years ago, Dream Finder was released and his name was added to Forbes’ billionaires list. As of this week, Forbes has listed Zalupski’s net worth for $1.3 billion, making him the 2,531st wealthiest person in the world.

Willie Nun, president and founder of West Bay Holmes in Riverview, has known Zalpski for about eight years as both companies are moving forward in the home building world. Nun described Zarpski as attractive and ambitious.

“As a season ticket holder, I like the idea of ​​being the owner of Patrick Zarapski,” Nun said.

Zalupski’s increase in wealth was also correlated with his increased involvement in the political world. In recent years, Dream Finders Homes has dramatically increased its political contributions, records showing it has gone from $20,000 in 2020 to more than $500,000 last year.

Gov. Ron DeSantis appointed Zalpski to the University of Florida Council in early 2023. That summer, Dream Finders Holmes wrote a $250,000 check to Super PAC for DeSantis’ presidential bid – the biggest political donation ever – Zarapski donated up to $6,600 to DeSantis’ campaign.

If Zalupski’s group bought Rays, it would not be his first foray into fundraising professional sports. The Jacksonville Jaguars name their previous practice facility after the Dream Finders home, and Zarapski’s soccer team’s robust sponsorship won a superyacht spot belonging to Jaguar owner Shad Khan.

According to a 2024 article in the Florida Times Union, the ship, known as the Kismet, held a gorgeous party of the upper crust surrounding the team. It is 410 feet long, and is the near-precise distance between the home plate and the straight away center field at Rays’ temporary home at George M. Steinbrenner Field in Tampa.

“Kismet is a kind of ultimate sales tool,” Zarapski told the newspaper. “It’s only accessible by being part of the Jaguar family.”

More recently, Zalupski’s name comes in the news about its connection to some of Florida’s biggest stories. After the Governor’s Committee, which oversees Florida’s public universities, rejected UF’s sole finalist, the Tampa Bay Times quoted Zalpsky from a conversation he overheard “You’re f-Edup, man.”

Zalupski was also rumoured to be the developer behind the secret deal that Florida traded 600 acres of untouched wildlife sanctuary to private companies. The proposed land exchange sparked bipartisan rage enough that the idea was shelved.

The state has not revealed the identity of the person behind the company, despite journalists and at least one state legislator repeatedly seeking details from civil servants.

Rob Riva, general counsel for Dream Finders Homes, said the Times Home Building Company was not previously involved. He did not respond to a follow-up message asking if Zalupski was behind Upland LLC in his personal abilities.

But Rep. Kim Kendall, R-St. Augustine texted Upland’s lawyers to Salpski’s phone number, but he did not deny that he was his client.

“Reply, I’m not trying to be difficult, but I’m not allowed to publish any information on this issue,” Gary Hunter texted. “That includes Zalupski’s phone number.”

Trip mirror

Miller, founder of the Memphis Hedge Fund, is also fighting to take over the ray.

He leads a group called “Epping Forrest Diamond Partners,” which advocated the offer earlier this month.

Miller did not name other investors on his team or disclose the amounts he provided. However, he told the Times they were ready to compete with Zalpsky.

“We are financially prepared for more bids as needed,” Miller said.

Miller was born and raised in Memphis and won an MBA at the University of Florida in 2000. I started Gullane Capital in 2012. The fund has invested in several major companies, including Apple, Fedex and Amazon.

This is not Miller’s first attempt at Sternberg’s courtship.

In 2023, Miller formed another group, including Dan Doyle Jr., CEO of Tampa-based office company Dex Imaging. According to a report from Forbes, they provided the team with $1.85 billion.

Miller said Doyle is not part of the current investment group. In fact, Doyle is considered to be part of Zalupski’s group this time.

Miller said his goal as a team owner is to provide resources to build a new stadium. “The rays need a good home and I’m not sure about this now,” he said.

As far as location goes, Miller said he would consider all the options, but he said he prefers to keep his team in Tampa Bay. Miller has a home in Jacksonville and lives north of the Florida border in Sea Island, Georgia.

“There are many fascinating sites in the Tampa Bay Area, and I think every effort should be exhausted by the party that won a bid to keep it in the Tampa Bay Area,” he said. “And I believe the league wants to see it.”

Times staff writer Max Chesnes contributed to this report.