On Tuesday, October 7, 2025, the new ownership group of the Tampa Bay Rays, led by Lead Investor Patrick Zalupski, Co-Lead Bill Cosgrove, and new CEO Ken Babby, addressed the press in a 30-minute briefing, outlining their vision for the franchise and a new stadium.
Here are the five key takeaways.
1. Aggressive 2029 Timeline for a New Stadium
Zalupski announced an ambitious target for Opening Day 2029 for a new Rays stadium, despite the absence of finalized plans. When questioned about a potential lease extension for Tropicana Field, the ownership group emphasized that their focus is on the new stadium project rather than extending the current lease.
2. Stadium Vision includes a 100-acre Mixed-Use Development
The ownership group revealed plans for a 100-acre mixed-use development deemed “essential” to the new stadium project. This large-scale vision suggests a preference for the Hillsborough Community College parcel on Dale Mabry (next to the Yankees Spring Training complex used as the Rays home stadium for 2025) over the previously speculated Ybor Harbor waterfront site.
Zalupski cited Atlanta’s The Battery as the “gold standard” for the Rays’ new ballpark, noting ongoing meetings and discussions with the Atlanta Braves’ front office to learn from their successful development.
The envisioned stadium will feature a fully enclosed, non-retractable, climate-controlled roof, designed to host concerts regularly in addition to baseball games.
4. Commitment to Tampa Bay, No Commitment to County Location
While Orlando was not completely eliminated from consideration in response to press questions, the new ownership was emphatic that the priority is Tampa Bay.
Zalupski also clarified that no commitment has been made to either Hillsborough or Pinellas County for the stadium’s location. He explained that engagement with public officials on behalf of the organization was restricted until the ownership deal was finalized last Tuesday, thereby limiting prior discussions on the project.
5. Commitment to the Rays Front Office
Zalupski expressed strong support for Rays President of Baseball Operations Erik Neander, stating that ownership is “prohibited” from interfering in baseball operations and will fully back Neander’s vision for building a championship-caliber team.
When asked by WDAE about key player commitments, Zalupski reiterated the ownership’s hands-off approach to personnel decisions, humorously noting a “self-imposed rule” against involvement in baseball operations, with Babby adding, “In Erik and Kevin we trust.”
