A Jacksonville group led by billionaire Patrick Zalupski have agreed to buy the Rays for an estimated price of $1.7 billion, according to The Athletic. The deal is expected to be finalized by September after negotiations took place over the past weeks. The Rays' principal owner, Stu Sternberg, bought the franchise in 2004 for $200 million.

A deal to sell the Tampa Bay Rays to a developer in Jacksonville is in the works. Sources said Stu Sternberg has a deal in principle to sell the team to Patrick Zalupski for $1.7 billion.

ABC Action News reached out to city officials about this week's report swirling around the potential sale of the Tampa Bay Rays.

The Tampa Bay Rays will soon change ownership. Stuart Sternberg has agreed to sell the franchise to a group led by Jacksonville developer Patrick Zalupski for approximately $1.7 billion, per Evan Drellich and Ken Rosenthal of The Athletic. The deal is expected to be finalized around September.

The Tampa Bay Rays may have found their new owners. According to the Athletic, owned by the New York Times, a $1.7 billion sale of the team has been agreed to in principle and could be completed as soon as September.

St. Pete officials voted Thursday to officially terminate the redevelopment plans as talks of potentially moving the Rays to Tampa for good loom.