Tampa Bay Rays in talks to sell team
Why it matters: The potential sale raises more questions about the future of the team just a few months after plans to build a new stadium in downtown St. Petersburg fell apart.
State of play: The discussions, first reported by Sportico, are with a group led by Patrick Zalupski, a Jacksonville home builder; Ken Babby, who owns the Jacksonville Jumbo Shrimp minor league baseball team; and Bill Cosgrove, the CEO of an Ohio-based mortgage firm.
Unnamed "prominent Tampa Bay investors" are also part of the group, per the Rays' statement.
"Neither the Rays nor the group will have further comment during the discussions," it goes on to say.
The intrigue: The potential deal values the team at $1.7 billion, per the Sportico report. The sports business news outlet also reported that Zalupski had signed a letter of intent to buy the team.
Current owner Stuart Sternberg bought the team in 2004 for $200 million.
Between the lines: The stadium plan's unraveling put Sternberg at odds with local elected officials, making the odds of a deal revival appear slim to none.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Straits Orthopaedics Expands Global Footprint with Acquisition of U.S.-Based Medin Technologies, Strengthening Orthopaedic Manufacturing Portfolio
PENANG, Malaysia, July 25, 2025--(BUSINESS WIRE)--Straits Orthopaedics (Mfg) Sdn Bhd ("Straits"), a leading Malaysia-based contract manufacturer specializing in the precision machining of orthopaedic implants and surgical instruments, today announced the successful acquisition of Medin Technologies, Inc. ("Medin"), a U.S.-based manufacturer of sterilization cases and trays for the orthopaedic sector operating two facilities in Totowa, New Jersey, and Manchester, New Hampshire. This strategic acquisition represents a pivotal step in Straits' growth trajectory, reinforcing its commitment to broadening both its product offerings and global manufacturing capabilities. With over 20 years of experience serving the global orthopaedic market, Straits is now uniquely positioned to deliver a more integrated and expansive suite of solutions to its global OEM partners. Hans de Waal, General Manager of Medin, said, "Medin Technologies is excited to become a part of the Straits Orthopaedics organization. Our company has been serving the orthopaedic market since 1979 and has become a major player in the case and tray market. Joining Straits enables the company to provide solutions across multiple segments as a global CMO capable of delivery fully kitted instrument sets ready for distribution." "We are excited to add Medin's case and tray product lines to our broad array of manufacturing capabilities," said Scott Gareiss, CEO of Straits. "Medin is recognized for their design expertise, vertical integration, and innovative quality controls for case and tray production used in systems for joint replacement, trauma, extremities, spine, power equipment, and more for medical device OEM's. The combination of Straits and Medin will enable us to serve our customers more broadly." Ewan Davis, Partner at Quadria Capital and Board Director of Straits Orthopaedics, added, "The addition of Medin demonstrates our continued focus on investing in and expanding the scope of services provided by Straits for our customers and ultimately increasing patient impact across the world. The combined businesses create a truly global footprint and is testament to the ambition and capabilities of this Malaysian orthopaedic contract manufacturing champion." Kirkland & Ellis and PwC served as advisors to Quadria and Straits. About Straits OrthopaedicsFounded in 2003 by TH Su in Penang, Straits Orthopaedics manufactures implants and instruments as a contract manufacturer serving orthopaedic OEM customers. Straits is a vertically integrated provider of precision machined products with in-house surface treatment, heat treatment, and sterile packaging. Please visit for more information. About Quadria CapitalFounded in 2012, Quadria Capital is Asia's premier healthcare investor managing over US$4 billion in assets across 27 investments in South and Southeast Asia including India, Vietnam, Indonesia, Malaysia and Singapore. Quadria Capital aims to create significant and sustainable shareholder value by partnering with exceptional healthcare businesses to enhance their impact and scale, while generating superior returns for investors. For more information, please visit View source version on Contacts Media Contact: Yvette Sign in to access your portfolio
Business Wire
an hour ago
- Business Wire
Straits Orthopaedics Expands Global Footprint with Acquisition of U.S.-Based Medin Technologies, Strengthening Orthopaedic Manufacturing Portfolio
BUSINESS WIRE)--Straits Orthopaedics (Mfg) Sdn Bhd ('Straits'), a leading Malaysia-based contract manufacturer specializing in the precision machining of orthopaedic implants and surgical instruments, today announced the successful acquisition of Medin Technologies, Inc. ('Medin'), a U.S.-based manufacturer of sterilization cases and trays for the orthopaedic sector operating two facilities in Totowa, New Jersey, and Manchester, New Hampshire. This strategic acquisition represents a pivotal step in Straits' growth trajectory, reinforcing its commitment to broadening both its product offerings and global manufacturing capabilities. With over 20 years of experience serving the global orthopaedic market, Straits is now uniquely positioned to deliver a more integrated and expansive suite of solutions to its global OEM partners. Hans de Waal, General Manager of Medin, said, 'Medin Technologies is excited to become a part of the Straits Orthopaedics organization. Our company has been serving the orthopaedic market since 1979 and has become a major player in the case and tray market. Joining Straits enables the company to provide solutions across multiple segments as a global CMO capable of delivery fully kitted instrument sets ready for distribution.' 'We are excited to add Medin's case and tray product lines to our broad array of manufacturing capabilities,' said Scott Gareiss, CEO of Straits. 'Medin is recognized for their design expertise, vertical integration, and innovative quality controls for case and tray production used in systems for joint replacement, trauma, extremities, spine, power equipment, and more for medical device OEM's. The combination of Straits and Medin will enable us to serve our customers more broadly.' Ewan Davis, Partner at Quadria Capital and Board Director of Straits Orthopaedics, added, 'The addition of Medin demonstrates our continued focus on investing in and expanding the scope of services provided by Straits for our customers and ultimately increasing patient impact across the world. The combined businesses create a truly global footprint and is testament to the ambition and capabilities of this Malaysian orthopaedic contract manufacturing champion.' Kirkland & Ellis and PwC served as advisors to Quadria and Straits. About Straits Orthopaedics Founded in 2003 by TH Su in Penang, Straits Orthopaedics manufactures implants and instruments as a contract manufacturer serving orthopaedic OEM customers. Straits is a vertically integrated provider of precision machined products with in-house surface treatment, heat treatment, and sterile packaging. Please visit for more information. About Quadria Capital Founded in 2012, Quadria Capital is Asia's premier healthcare investor managing over US$4 billion in assets across 27 investments in South and Southeast Asia including India, Vietnam, Indonesia, Malaysia and Singapore. Quadria Capital aims to create significant and sustainable shareholder value by partnering with exceptional healthcare businesses to enhance their impact and scale, while generating superior returns for investors.
Yahoo
an hour ago
- Yahoo
TikTok Will ‘Go Dark' Soon if China Does Not Strike Deal, Commerce Secretary Says
Howard Lutnick says TikTok's algorithm must be sold for the popular app to remain active past Sept. 17 No more extensions. TikTok will 'go dark' if China does not cut a deal with the Trump administration that transfers control of the app's technology and algorithm, U.S. Commerce Secretary Howard Lutnick said on Thursday. More from TheWrap TikTok Will 'Go Dark' Soon if China Does Not Strike Deal, Commerce Secretary Says Trump Says It Is 'Not Do-able' for AI Companies to Pay for All Copyrighted Content Used in Training Models YouTube Ad Revenue Up 13% Year-Over-Year in 2nd Quarter of 2025, Hitting $9.8 Billion Oracle in Talks With Paramount-Skydance for $100 Million Cloud Deal | Report Lutnick was discussing the ongoing TikTok negotiation during an appearance on CNBC's 'Squawk on the Street.' TikTok's parent company, Beijing-based ByteDance, is currently facing a Sept. 17 deadline to offload the app's American operation or face being banned in the States. 'We've made the decision: you can't have Chinese control and have something on 100 million American phones. That's just not okay,' Lutnick said. He continued: 'So if it's in American control, and, you know, China can have a little piece, or ByteDance, the current owner, can keep a little piece. But basically, Americans will have control. Americans will own the technology, and Americans will control the algorithm.' His comments come after TikTok has received multiple extensions from the president to reach a deal on selling its U.S. app. TikTok was initially set to be banned on Jan. 19, after President Joe Biden signed a law last year requiring ByteDance to sell TikTok's American operation. The chief concern lawmakers had was that TikTok could act as a stealth spyware app for China's communist government, as ByteDance is required by Chinese law to hand over any user data the government asks for. President Trump, on his first day back in office on Jan. 20, gave TikTok a 75-day extension to make a deal, and the app's future in the U.S. has remained in limbo ever since. The president gave TikTok a second extension in April, and then another one last month, making Sept. 17 the latest deadline. In late June, White House Press Secretary Karoline Leavitt said President Trump's 'main goal' is making sure TikTok remains available in the U.S. — 'while protecting [Americans'] privacy and security.' TikTok has said it has 170 million American users. On Thursday, Lutnick said TikTok is 'not really' part of a larger trade deal being discussed with China. But he also said it is hard for the topic to not come up 'unofficially' during discussions with Chinese diplomats. You can watch part of Lutnick's CNBC appearance by clicking here. The post TikTok Will 'Go Dark' Soon if China Does Not Strike Deal, Commerce Secretary Says appeared first on TheWrap.
