Jacksonville CEO Eyes Purchase of Tampa Bay Rays

JACKSONVILLE, Fla. – Patrick Zalupski, the CEO of Dream Finders Homes, is leading a group aiming to purchase the Tampa Bay Rays from current owner Stu Sternberg. A letter of intent has been signed, marking a pivotal moment for both Zalupski and the struggling Major League Baseball franchise.

The Rays, valued at approximately $1.25 billion according to Forbes, have faced significant challenges, including losing their home stadium, Tropicana Field, to Hurricane Milton in 2024. This severe storm forced the team to relocate its home games to Steinbrenner Field, the spring training venue for the New York Yankees.

Zalupski, 44, originally from a suburb of Detroit, has a compelling personal journey. He lived in various locations during his childhood due to his father’s career, including time spent in Belgium. After studying finance at Stetson University, Zalupski briefly worked at FedEx but left after finding the role uninspiring.

Upon moving to Jacksonville to support his mother, a successful realtor, Zalupski flipped his first property for $150,000. Despite facing obstacles during the financial crisis, he founded Dream Finders Homes in 2008 with his business partners. The company quickly flourished, building 27 homes in its first year, scaling to over 38,000 homes in 2021, and going public on the New York Stock Exchange.

The success of Dream Finders Homes has made Zalupski a billionaire, with a net worth estimated at $1.4 billion. His wealth positions him as the richest resident in Jacksonville, turning his attention now to the baseball franchise in need of revitalization.

During this challenging period, the Tampa Bay Rays have seen low attendance rates, exacerbating the urgency of Zalupski’s potential ownership. He is also preparing to sell his Ponte Vedra Beach home, recently listed for $9.9 million, indicating his commitment to securing the capital necessary for the proposed purchase.

As talks about the sale progress, the team’s future remains uncertain. Zalupski’s plans could significantly impact the direction of the franchise, which, along with its attendance woes, has faced numerous challenges in recent years.