The Major League Baseball owners have unanimously approved the sale of the Tampa Bay Rays to developer Patrick Zalupski. The team is being sold at a valuation of $1.7 billion.

The Rays’ current ownership group, led by Stu Sternberg, has owned the team for 20 years. The franchise was purchased for $200 million in 2004.

The Rays have played at George M. Steinbrenner Field this season due to Hurricane Milton damage to Tropicana Stadium. The team is expected to return to Tropicana Field in 2026.

The Rays were hoping to build a new stadium, but plans fell through after Hurricane Milton.