Tampa Businessman Molloy Leads Group Looking To Buy Rays & Keep St. Petersburg Stadium

Joe Molloy, a Tampa businessman, is heading up an investment group looking to buy the Tampa Bay Rays while supporting a major stadium project in St. Petersburg.

Molloy laid out his plan: keep the team in St. Petersburg and fully back the planned downtown stadium.

The clock is ticking on this major move. By March 31, current owner Stuart Sternberg needs to make a call on the new stadium deal, a decision that could determine baseball's future in St. Petersburg. The Historic Gas Plant District would be home to this new ballpark. City officials see it becoming a thriving hub with sports venues, retail, and housing that could boost the local economy.

Molloy brings real baseball experience, with ten years of marketing and operations work with the New York Yankees. At 64, he has deep connections to baseball through his previous marriage to Jessica Steinbrenner, daughter of former Yankees owner George.

The Rays have been trying to nail down a new stadium location for years. But Sternberg hasn't said anything about selling, even as speculation grows. Outside of baseball, Molloy puts money into local schools. His investment in Tampa Bay education shows he's committed to helping the whole community grow.

The investment group is working closely with local leaders to create something meaningful. They want to build on the progress city officials have already started.