O n Wednesday, the Tampa Bay Rays announced that a group led by Patrick Zalupski—a homebuilding billionaire–entered exclusive negotiations to buy the team from principal owner Stuart Sternberg. The price being discussed: $1.7 billion, according to Sportico.

Sportico reported the Tampa Bay Rays are in advanced talks to be sold to a Jacksonville group headed by Patrick Zalupski.

"The Tampa Bay Rays announced that the team has recently commenced exclusive discussions with a group led by Patrick Zalupski, Bill Cosgrove, Ken Babby and prominent Tampa Bay investors concerning a possible sale of the team," the Rays said in a statement. "Neither the Rays nor the group will have further comment during the discussions."