Patrick Zalupski signals continuity after purchase of Tampa Bay Rays

Patrick Zalupski told Dream Finders Homes shareholders on Dec. 29 that the Rays' "world class baseball operations will stay in place" and emphasized that a new ballpark and surrounding development are central to the team's future.

Patrick Zalupski, the new lead owner of the Tampa Bay Rays, wrote to Dream Finders Homes shareholders on December 29 and included comments about his purchase of the team. He said the club's "world class baseball operations will stay in place" and has installed Ken Babby to run the business side on his behalf. Zalupski framed the Rays as a long-term appreciating asset and said he plans to dedicate himself to the first six months of ownership. He also emphasized a focus on a new ballpark and surrounding development as central to the franchise's future. Key points: - Zalupski's letter to Dream Finders Homes shareholders was dated December 29 and addressed his purchase of the Tampa Bay Rays. - He stated the team's "world class baseball operations will stay in place" and named Ken Babby to oversee the business side of the organization. - He described the Rays as a long-term appreciating asset and noted he intends to dedicate himself to the initial six months of ownership. - The letter repeatedly referenced a new ballpark and surrounding development as the key inflection point for the franchise's future. - Zalupski said Dream Finders Homes remains his largest equity holding, that DFH stock is not the primary collateral for the purchase, and that he does not anticipate meaningful stock sales tied to the acquisition. - He linked ownership of the Rays to Dream Finders' broader Florida strategy and regional presence. Summary: The letter frames the early months of ownership as one of continuity and long-term planning rather than immediate, large-scale spending. Resolution of the ballpark and development is presented as the main trigger for future change. Undetermined at this time.