Rays enter 'exclusive discussions' for potential sale with Florida investment group

The Tampa Bay Rays are in "exclusive discussions" with an investment group in Florida about a potential sale of the team. 

"The Tampa Bay Rays announced that the team has recently commenced exclusive discussions with a group led by Patrick Zalupski, Bill Cosgrove, Ken Babby and prominent Tampa Bay investors concerning a possible sale of the team," the organization said on Wednesday. 

Forbes has the Rays valued at $1.25 billion, which is much more than the $200 million Stuart Sternberg paid for the MLB franchise in 2004.