Rays need a new stadium or relocation. A group of the Tampa Bay Rays' minority partners filed suit against principal owner Stuart Sternberg this week, alleging he improperly enriched himself by secretly transferring. We have abided by thepartnership agreement and the Tropicana Field use agreement.. If you are married and are having an affair doesnt someone usually get upset if they are made to wait that long There can be two truths. Its not a disease. Cass Halpin. I hope they move to Montreal, the rivalry with the Jays would be fun to watch and travel in that division would be a breeze. I say no more baseball for Canada. The five limited partners who filed the lawsuit are: The MacDougald Family Limited Partnership, with a 1.33 percent limited partner interest in Tampa Bay Rays Baseball, which is referred to as the partnership in the lawsuit, Stephen Mitchell Waters 2020 MLB Irrevocable Trust agreement, with a 0.4 percent limited partner interest, Stephen M. Waters, with a 0.7 percent limited partner interest, Gary Markel, with a 2.15 percent limited partner interest, Robert Kleinert, with a 5 percent limited partner interest. for over 2 decades. In a business like baseball you have to look into the past and into the future. 3:57 pm ET. Nashville to Tampa: Hey, nice Riverwalk you got there. Baltimore Orioles Baltimore Boston Red Sox Boston New York Yankees NY Yankees Tampa Bay Rays Tampa Bay Toronto Blue . And this guy isnt helping. Their suit is the blue-collar let me speak to your manager request. Im shocked. Vince McMahons slow, but steady, rise from the ashes seems to be continuing this WrestleMania season. According to the lawsuit, that cash flow could be significant. As a long time baseball and Rays fan your comment stung. What is neglected in that rant is the financial props in the US helped develeop and introduce the vaccine quickly in the 1st place, then the US RIGHTLY made 1st it was used in the US 1st and that is where most of the early product went. Melnyk may have kept the Senators in Ottawa, but thats pretty much the last positive thing he did. Of most interest to Rays fans is likely their assertion that Sternberg has been secretly negotiating to sell an interest in the Franchise and Club to a Canadian businessman named Stephen Bronfman and his Montreal Baseball Group. The complaint alleges that Sternberg has been in clandestine discussions with Bronfman since the Spring of 2014.. Tampa Bay Rays, fans respond to lawsuit filed against principal team owner Despite a red-hot May, a cloud hangs over the franchise in the form of a lawsuit recently filed against principal. In the past week when Willy Adames was traded a fan favorite who seemed like best teammate and everyone I know in Tampa Bay loved him. Required fields are marked *. Kriseman went on to further suggest that he cannot negotiate a deal for a new stadium with Sternberg while the suit is pending (via Josh Solomon of the Tampa Bay Times). The Rays rank among the least valuable MLB teams, with an estimated valuation of $1.1 billion according to Forbes calculations. tbh if the rays actually moved a few miles east into tampa and they cut a deal with st. pete to allow the move im sure more than 5k in fans would show up. There is a big fan base in Tampa for the Rays but the location and stadium is just terrible. The suit is seeking . You mean the Las Vegas As and The Montreal Rays. The Texas Rangers Major League Baseball (MLB) franchise was established in 1961 as the second incarnation of the Washington Senators, an expansion team awarded to Washington, D.C., after the old Washington Senators team of the American League moved to Minnesota and became the Twins.The new Senators remained in Washington through 1971 playing at Griffith Stadium in their first season and at RFK . Nevada's rebuilt title designation indicates that a vehicle has had a major component replaced such as: Cowl - (Space between car hood and windshield where wipers are located) Roof. The Rays announced in June 2019 they were planning to explore an arrangement that would see the organization potentially split its home games between Tampa Bay and Montreal. Senior Director, Building Operations. /s/. Bloomberg has Canada at 45% first shot, U.S. 50%. The Tampa Bay Timesreport notes that Sternberg had previously told the publication that his conversations about a potential sale to Bronfman did not begin until about 2017. With first place on the line in the AL East, the Tampa Bay Rays and Boston Red Sox stuck to playing baseball Monday night. Jeter owns a 4 percent. And make similar moves like the Montreal decision to some of these owners and organizations. @theodore: Rob will get right on it as soon as he settles the MASN dispute between the Nationals and Peter Angelos. That seems like a massive overreaction lol. Championships: 0. The effect of all of this is that the partnership 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 very reason the limited partnership was formed, the lawsuit said. That tactic squeezed out some partners, forcing them to sell their shares to Sternberg at a fraction of their value, the plaintiffs said. The five partners Robert Kleinert, Gary Markel, the MacDougald Family Limited Partnership, Stephen M. Waters and a trust in Waters name had previously sued in May 2021, alleging Sternberg had been trying to squeeze owners out of their stake and profits in the team, while asking them to pay taxes on the teams income. the limited partners have had to pay taxes on their ownership shares, and the complaint said . yeah, thats not a spiteful thing to do at all that totally wolnt lose the league money. The Rays say the latest lawsuit filed by a group of limited partners who accuse Stuart Sternberg of wrongfully taking control of the team is a continuation of a "meritless and relentless campaign . I actually think that is what Stuie is waiting for. this is a bb site not the x-files if i wanted to hear about arguments about inoculations/politics then i would join a reddit site about said issues. It was right there in front of your eyes the whole time! After a very successful career at the firm, Vinik left to start his own hedge fund, Vinik Asset Management. Huizenga retained 5 percent ownership. He's been managing general partner since October 2005. He worked his way up to became a partner and retired in 2002, cashing in his stock, making him a wealthy man in his early 40s. I hope Tampa sticks to their guns and makes his pony up half the cost of a stadium for full season baseball. And they both look down at the worst ownership, the NHLs Ottawa Senators . How is cheating, lying and backstabbing seen as so abhorrent when poor and average people do it, but at the same time excused and even lauded when done by the rich? Championships: 3 (2004 over the Calgary Flames, 2020 over the Dallas Stars and 2021 over the Montreal Canadiens). This was a fun and very interesting thread right up until you, Sufferfortribe 2. Kind of like how Loria played Miami, sold the team, took the money and ran. Freedom does NOT mean being free from jags whose hearts desire spreading disease in order to pointlessly virtue signal that their being as selfish as possible is true freedom. Prior owner: Jeffrey Loria, who purchased the team in 2002 for $158.5 million. Nashville or Charlotte makes more sense. Not exactly apples-apples. Didnt help the Expos cause that their best team ever was the 1994 team, and was wiped out by the strike. When it comes to college basketball, Rick Pitino has seen and done about everything there is to see and do. A hearing on the matter is scheduled for September. 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The complainants additionally claim that Sternberg has placed himself and others on partnership payroll without explanation, among other allegations. Thatfirst ownershipgroup was Kokusai Green Co. Ltd., a Japanese golf resorts company headed by CEO Takashi Okubo. NBA legend Michael Jordan also owns a small stake, for which he paid about $5 million. Stuie has hired Rudy Guilianni to represent him. Championships: 2 (2002 against the Oakland Raiders and 2020 against the Kansas City Chiefs), Owner: Sunrise Sports and Entertainment (Vincent Viola, chairman). He is the son of Ted Arison, co-founder of Carnival. Since he bought the Rays, he hasnt done much to help the team, the cities, or MLB. We have an upcoming soccer team ready to develop land in st Pete, true NHL and NFL owners who invest in our community let STUpid go away! Nothing is happening until 2027 and then it will be a relocation out of the Bay Area unfortunately, As long as Stu goes thats great! Lets someone else do it for you.. You have to give credit to the Rays coaching staff for getting the most out of the ever changing players.. Well said, and STU-pid thinks he can threaten Tampa tax payers with moving the team. Weaver was the founding owner of the Jaguars. Every team has a legion of fans who comment, but Rays fans are mostly absent. A new ballpark would probably have solved all that and if they win the 94 World Series (which they probably would have as they were that good) Lebatt Park probably becomes a reality. And, of course, freedom means the right to spread as much disease as your heart desires. I run the table with the Detroit Lions! In reality thats a HUGE advantage, one that every other GM in the sport would love to have. Privacy Policy | Copyright 2020 The St Petersburg Group. Five partners who collectively own about 9.6 percent of the team filed the new lawsuit Monday in Pinellas-Pasco Circuit Court, claiming the fraudulent transfer of the team to a company controlled by Sternberg reduced to a mere shell their partnership. Minority owners. The Rowdies began the season with a 13 game unbeaten streak. He cares about making m0ney and when the time comes, he will sell and happily walk away with even more riches in his pockets. The Rays issued a brief statement Tuesday afternoon responding to the lawsuit. 1. Sounds on brand to me. This group helped bring the Magic to Orlando. At the time of purchase in 2004, there were 11 members of the limited partners group. The Athletic was first to report on the lawsuit. Sternbergs attorneys have sought to have that suit dismissed. ================================================================== As stated in the article he was blatantly not taking investments for the partnership (in which hes responsible) and turning those same interests into his own personal investment so he can further make a move on the rays behalf to invest in something he personally owns and benefits off of when he used his authority to not let the partnership have a chance to make that investment. Net of stadium revenues used for debt payments. 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tampa bay rays ownership group limited partners