The Tampa Bay Rays shared an eye-opening announcement earlier this week that they were in discussions regarding a potential sale. While those discussions were initially billed as “exclusive,” it seems like another buyer has thrown their hat in the race, which could lead to a full-scale bidding war in the coming weeks and months.

Initially, it looked like Patrick Zalupski, a real estate investor from Jacksonville, Florida, would be buying the Rays. On Friday night, though, it was revealed that a Trip Miller, hedge fund founder from Memphis, Tennessee, had made an all-cash offer to Tampa Bay's current owner, Stu Sternberg, for the team.

“Memphis hedge fund founder Trip Miller has formed a group that made an all-cash offer to current Rays owner Stu Sternberg last week, he told The Athletic, noting the group’s willingness to up their offer if needed. He did not say what amount his group bid, and said he could not reveal who was in his group, citing an NDA,” Sam Blum wrote for The Athletic.

Could there be a bidding war for the Rays?

Article Continues Below
More Tampa Bay Rays News
Tampa Bay Rays manager Kevin Cash (center) looks on during the first inning against the Detroit Tigers at George M. Steinbrenner Field.
Rays’ Kevin Cash provides injury update on pitcher struck in the face by foul ballJosh Davis ·
Aug 11, 2023; Seattle, Washington, USA; Baltimore Orioles starting pitcher Kyle Gibson (48) pitches to the Seattle Mariners during the first inning at T-Mobile Park. Mandatory Credit: Steven Bisig-Imagn Images
Former All-Star opts out of Rays contractMike Gianakos ·
Tampa Bay Rays shortstop Ha-Seong Kim (7) poses for a photo during media day.
Rays infielder gets promising injury updateJoey Mistretta ·
Tampa Bay Rays pitcher Shane McClanahan (18) talks to catcher Danny Jansen (19) against the New York Mets in the first inning during spring training at Charlotte Sports Park. Caballero
3 Rays who must be on trade block ahead of 2025 deadlineZachary Howell ·
Tampa Bay Rays relief pitcher Hunter Biggs (43) throws a pitch in the ninth inning against the Toronto Blue Jays at Tropicana Field.
Rays’ Hunter Bigge carted off after getting hit by 105 mph line driveJosh Davis ·
Tampa Bay Rays first baseman Yandy Diaz (2) hits an rbi single against the Baltimore Orioles in the fifth inning at George M. Steinbrenner Field.
Rays make history with improbable win over OriolesJosh Davis ·
The Tampa Bay Rays logo on a batting helmet prior to the game against the Milwaukee Brewers at American Family Field.
Mandatory Credit: Jeff Hanisch-Imagn Images

It remains to be seen whether or not the Rays will consider Miller's offer, or if they are dead set on selling to Zalupski. It is clear, though, that while it looked like Zalupski was going to have no competition for the team, Miller and several other folks may look to make things interesting at the very least, which could prompt other interested parties to make their own offer for the franchise.

On the field, the Rays have been on a roll as of late, as they have surged up to second place in the American League East with a 42-34 record. After kicking off their series against the Detroit Tigers with a 14-8 victory on Friday, they will look to pick up a series victory over the team with the best record in baseball when they take the field at 12:10 p.m. ET on Saturday.