Closing Bell

St. Pete restarts bidding for Tropicana Field project

St. Petersburg Mayor Ken Welch is "scrapping the bid process initiated by his predecessor [Richard Kriseman] that resulted in two groups competing for the rights to redevelop" the Rays' Tropicana Field. Welch will seek "new bids in the next four to five weeks with the aim of selecting a redevelopment group by the end of the year." Bidders will be "asked to include plans" for a new ballpark, though the team "continues to evaluate it options for where to play home games" when its current lease expires in '27 (TAMPA BAY TIMES, 6/29). Mayor Welch today said, “I don't believe waiting a few months to get this right is unreasonable. ... St. Petersburg is the best opportunity for the Rays. It's about making sure we've got the right plan for where we are in 2022" (AP, 6/29).

Meanwhile, a group of Rays minority owners has filed a third lawsuit against majority Owner Stu Sternberg, alleging their ownership "has been reduced to a mere shell, with no revenues from baseball-related operations, no cash flow, and no responsibilities of the management of the Rays team and franchise to the Limited Partners." The new lawsuit "includes claims of fraud and a violation of Florida’s Unfair and Deceptive Trade Practices Act." The Rays declined comment. The group owns about 9.6% of the team (, 6/29).

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SBJ I Factor: Jed York, presented by Allied Sports SBJ I Factor presented by Allied Sports features an interview with San Francisco 49ers CEO Jed York. York is in his 17th year with the organization and his 12th as CEO. He is a two-time SBJ Forty Under 40 honoree as a member of the classes of 2012 and 2013. York talks with SBJ’s Abe Madkour about what he learned from growing up in the sports business, working in multiple departments at the team, the challenges of building Levi’s Stadium, and how his leadership style has evolved through the years. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards, such as Forty Under 40, Game Changers and others.

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