TAMPA, Fla. (WFLA) — The Tampa Bay Rays have officially been sold to a new owner in an MLB-approved deal, the team announced on Tuesday.

The new ownership group is led by Patrick Zalupski, CEO of Dream Finders Homes, a Florida-based real estate developer. Also part of the group is Bill Cosgrove, CEO of Union Home Mortgage, and Ken Babby, CEO of Fast Forward Sports Group.

The Tampa Bay Business Journal reported that the team was sold for $1.7 billion.

Zalupski will act as the MLB Control Person and co-chair for the team alongside Cosgrove, and Babby will serve as the CEO and oversee day-to-day operations. Erik Neander will continue his role as President of Baseball Operations.

“It’s an incredible honor to become the stewards of the Tampa Bay Rays, a franchise with a proud history and a

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