The sale of the Tampa Bay Rays to a group led by Jacksonville real estate developer Patrick Zalupski is on track to be finalized as soon as September, according to a report from Evan Drellich and Ken Rosenthal of

The sale, which will be for around $1.7 billion, is expected to keep the team in the Tampa Bay area—with a strong preference to be in Tampa proper rather than St. Petersburg, per the report.

The team's current owner, Stu Sternberg, purchased the franchise for $200 million in 2004. The team is searching for a new stadium after the damage to Tropicana Field in St. Petersburg from Hurricane Milton last fall. Repairs are well underway at Tropicana, and the hope is that the Rays will be able to play there next season while a new stadium is potentially built.

The Rays have been playing home games this season at Steinbrenner Field in Tampa, the spring training home of the New York Yankees, while repairs continue at Tropicana Field.