There is never a dull moment in Major League Baseball—especially not when it comes to things like ownership changes, stadium sagas, and expansion dreams. This news rocks the MLB world like no other. And these are exciting times, because the latest bombshell has dropped. The Tampa Bay Rays, who are a long-standing riddle in the MLB business world, are close to being sold for around $1.7 billion.

That’s right—billion! Jacksonville real estate mogul Patrick Zalupski is said to be in advanced talks with the current owner, Stuart Sternberg. Multiple outlets confirmed that Zalupski has signed a letter of intent to buy the team, too.

But what’s surprising is not just the price tag. It’s that this is all happening as the Rays continue to operate in a limbo with no permanent home yet. And now, even before the sale, rumors about them moving from Tampa are in full swing!

Now Bob Nightengale of USA Today made waves by saying, “ Tampa Bay Rays are close to being sold and likely getting a new stadium deal, it could clear the way for MLB to expand for the first time since 1998, with Salt Lake City and Nashville among the favorites to get a team for the 2031 season.” However, how close is the deal to being finalized? Well, that is still up in the air.

The sale is not final, and even if it goes through, the expectation is that the Rays will be in Tampa. Commissioner Rob Manfred has been adamant about that, and it makes sense. The Tampa market ranked 11th in TV and 17th in population last year, far ahead of Jacksonville’s rankings. Also, Zalupski and Ken Babby are prominent Bay investors. But if the Miller group wins the deal, then maybe the Rays will remain in the area or move to Orlando instead. Meanwhile, it’s no secret that the Rays have honestly been dealing with stadium headaches for years now, and that can chase away buyers. And even nature did not spare them, as Hurricane Milton gave them a massive blow to Tropicana Field last season.

Since then, the teams has been making do at George M. Steinbrenner Field—the Yankees’ spring training home. Stadium funding talks have stalled for what feels like forever. But surprisingly, their market value has not tanked! Even with one of the smallest fan turnouts in the league, the Rays are now commanding a valuation that overtakes even the big-market teams. And that’s setting off alarms in a good way—across the league. Just look at Minnesota; the Pohlad family has been testing the waters for the sale of the Twins, and now with Tampa’s price rising, those conversations are getting interesting too.

What Tampa Bay Rays’ price tag means for the Twins

If the Tampa Bay Rays can fetch $1.7 billion despite all the uncertainties, what does it mean for the Twins? A franchise with stability, but with its own complications? Well, at first, the timing couldn’t be more interesting. The Twins have reportedly turned away offers in the $1.5 billion range. And now, with the Rays’ rumored prices, it might give Pohlads exactly the justification they need for a bigger ask. On paper, they have the edge.

CNBC’s latest MLB team valuations place the Twins 22nd at $1.65 billion, well ahead of the Rays at 29th. Most importantly, the Twins have something that Tampa doesn’t—a stable home. Target Field opened in 2010, and it is one of the league’s premium parks. It’s centrally located, modern, and drama-free, which is a huge plus for potential buyers. But that doesn’t mean that Minnesota doesn’t have baggage!

The team carries about $425 million in debt, which has likely been factored into all the rejected bids. For some investors, given the economic climate, it is a red flag. Still, if Tampa can land a deal at $1.7 billion with all the problems, it could raise the price floor. And for the Twins, it may confirm that their asking price is not unreasonable. For now, though, the Pohalds are not rushing a sale.

Do you think the asking prices of both teams are relevant? Let us know.