Orlando has an owner ready to buy Tampa Bay Rays after they back out of St. Pete stadium deal

In the wake of the Tampa Bay Rays announcing Thursday that they are backing out of a proposed $1.3 billion stadium deal in St. Petersburg, the Orlando Dreamers — a group of investors trying to bring a Major League Baseball team to Central Florida — is ready to pounce.

A source within the Dreamers organization told the Sentinel Thursday night that they have an Orlando-based majority owner ready to buy the team and have financial commitments for more than a billion dollars to help fund a $1.7 billion domed stadium project on a 35.5-acre plot of Orange County land next to the Aquatica water park just across International Drive from SeaWorld.

The Dreamers, an effort started by late Orlando Magic co-founder Pat Williams, plan to make an official announcement Friday.

Like most other MLB team stadium construction projects, the Dreamers are proposing a public-private partnership to build the domed stadium with the team providing half of the funding while the other half would potentially come from Orange County’s Tourist Development Tax. The Dreamers say they have been in contact with Orange County Mayor Jerry Demings about the latest developments.

“We are confident Orange County will step up to the plate when the time comes,” said a source within the Dreamers.

If Orlando ever wants to land an MLB team, the opportunity will never be better than this.

The Rays issued a statement by principal owner Stuart Sternberg on Thursday saying they are no longer pursuing a new stadium in St. Petersburg due to “a series of events” in October, including funding delays due to two hurricanes — one that ripped the roof off Tropicana Field.

“After careful deliberation, we have concluded we cannot move forward with the new ballpark and development project at this moment,” Sternberg said in a statement. “A series of events beginning in October that no one could have anticipated led to this difficult decision.

“Our commitment to the vitality and success of the Rays organization is unwavering. We continue to focus on finding a ballpark solution that serves the best interests of our region, Major League Baseball, and our organization.”

The Rays, under their current lease agreement with the city of St. Petersburg, are contracted to play three more seasons at Tropicana Field after it is repaired from the hurricane damage, which has rendered it unplayable for the upcoming season. The Rays will play this season at a minor league park in Tampa.

After that, nobody knows what will happen with the team. Major League Baseball is reportedly adamant that it wants the team to stay in Florida — the nation’s third most-populous state. If that is indeed the case then there are really only two choices: Either the Rays would move across the bay into Tampa or move to Orlando.

“Major League Baseball remains committed to finding a permanent home for the club in the Tampa Bay region for their fans and the local community,” MLB said in a statement Thursday. “Commissioner [Rob] Manfred understands the disappointment of the St. Petersburg community from today’s announcement, but he will continue to work with elected officials, community leaders, and Rays officials to secure the club’s future in the Tampa Bay region.”

The Dreamers held a news conference in late January when they introduced Major League Baseball Hall-of-Famer Barry Larkin, a 25-year resident of Orlando, as the new front man for the drive to bring a professional baseball franchise to Central Florida.

Larkin said then he had reached out to MLB commissioner Rob Manfred, who indicated to Larkin that putting a team in Orlando is “an interesting and realistic opportunity.”

Email me at mbianchi@orlandosentinel.com. Hit me up on X (formerly Twitter) @BianchiWrites and listen to my Open Mike radio show every weekday from 6 to 9:30 a.m. on FM 96.9, AM 740 and 969TheGame.com/listen

Topics

Rays not moving forward with new stadium plans

The Tampa Bay Rays will not proceed with the development of a $1.3 billion baseball stadium in St. Petersburg, Florida, principal owner Stuart Sternberg said.
ESPN - 18h
Tampa Bay Rays withdraw from planned $1.3 billion ballpark in St. Petersburg, citing storms, delays

The Tampa Bay Rays on Thursday withdrew from a $1.3 billion ballpark project, citing hurricanes and delays that likely will drive up the proposal’s cost
ABC News - 23h
Rays announce team 'cannot move forward' with new ballpark project in St. Petersburg

Rays owner Stuart Sternberg said the team intends to work out a solution that satisfies the Tampa-St. Petersburg region, MLB and the team.
Yahoo Sports - 23h
Eddie DeBartolo, Jr. emerges as potential buyer of the Tampa Bay Rays

Legendary 49ers owner Eddie DeBartolo, Jr. could be back in the sports ownership game.
Yahoo Sports - 22h
What's next for Rays after killing stadium deal? Six possible outcomes for the future of the MLB team

Owner Stu Sternberg announced Thursday that the team will not move forward with its 2028 stadium plans
CBS Sports - 22h
Tampa Bay Rays withdraw from planned $1.3 billion ballpark, citing storms and delays

The Tampa Bay Rays on Thursday withdrew from a $1.3 billion ballpark project, citing hurricanes and delays that likely will drive up the proposal’s cost.
NBC News - 23h
The Rays get 120 hours to make the Yankees' spring stadium their own. Here's how they'll do it

When Tampa Bay players leave Steinbrenner Field following the New York Yankees’ spring training home finale on March 23, their staff will launch a 120-hour transformation of the ballpark for the ...
ABC News - 4d
The Rays get 120 hours to make the Yankees’ spring stadium their own. Here’s how they’ll do it

When Tampa Bay players leave Steinbrenner Field following the Yankees’ spring training home finale on March 23, their staff will launch a 120-hour transformation of the ballpark for the Rays’ ...
Yahoo Sports - 3d
Tampa Bay Derby 2025 predictions, horses, odds, field: Surprising picks from top horse racing expert

SportsLine horse racing writer Gene Menez reveals his Tampa Bay Derby 2025 picks after evaluating the contenders
CBS Sports - 5d

Orlando has an owner ready to buy Tampa Bay Rays after they back out of St. Pete stadium deal

Topics

Related

Rays not moving forward with new stadium plans

Tampa Bay Rays withdraw from planned $1.3 billion ballpark in St. Petersburg, citing storms, delays

Rays announce team 'cannot move forward' with new ballpark project in St. Petersburg

Eddie DeBartolo, Jr. emerges as potential buyer of the Tampa Bay Rays

What's next for Rays after killing stadium deal? Six possible outcomes for the future of the MLB team

Tampa Bay Rays withdraw from planned $1.3 billion ballpark, citing storms and delays

The Rays get 120 hours to make the Yankees' spring stadium their own. Here's how they'll do it

The Rays get 120 hours to make the Yankees’ spring stadium their own. Here’s how they’ll do it

Tampa Bay Derby 2025 predictions, horses, odds, field: Surprising picks from top horse racing expert

More from Yahoo Sports

Suns' owner Ishbia says Devin Booker trade will 'Never happen,' Booker says he doesn't want one

Why Tigers have young All-Star Riley Greene playing center field in spring training

West Alabama adds former Crimson Tide RB Bo Scarbrough to the football program

Roma Haven’t Gotten a Lot from Late Summer Signings

Mariners, Padres To Inaugurate ‘Vedder Cup’ Series

More in Sports

Suns' owner Ishbia says Devin Booker trade will 'Never happen,' Booker says he doesn't want one

Why Tigers have young All-Star Riley Greene playing center field in spring training

West Alabama adds former Crimson Tide RB Bo Scarbrough to the football program

Mariners, Padres To Inaugurate ‘Vedder Cup’ Series

Roma Haven’t Gotten a Lot from Late Summer Signings