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 BriefSources say Stu Sternberg has a deal in principle to sell the team to Patrick Zalupski for $1.7 billion.Hillsborough officials might only have one chance to cut a deal to find financing and land for a stadium.

ABC Action News reached out to city officials about this week's report swirling around the potential sale of the Tampa Bay Rays.

The Tampa Bay Rays will soon change ownership. Stuart Sternberg has agreed to sell the franchise to a group led by Jacksonville developer Patrick Zalupski for approximately $1.7 billion, per Evan Drellich and Ken Rosenthal of The Athletic. The deal is expected to be finalized around September.

The Tampa Bay Rays may have found their new owners. According to the Athletic, owned by the New York Times, a $1.7 billion sale of the team has been agreed to in principle and could be completed as soon as September.

It looks like Tampa Bay Rays fans will have plenty more years to cheer on the team as new ownership appears to be around the corner. According to a report from The Athletic, the Rays will be sold to a group led by Jacksonville, Florida-based developer Patrick Zalupski for close to $1.7 billion.

The proposed buyers of the Rays are not venture capitalists looking for a flip. These are Florida-rooted businessmen. Do they really care if the team is in Tampa or Orlando?