October 2, 2025 • 5 mins
Tampa Bay Business Journal Editor At Large Ashley Kritzer joins us to break down major business headlines, including the sale of the Tampa Bay Rays and what it means for the region, plus the latest trends shaping Tampa Bay’s commercial real estate market.
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Episode Transcript
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Speaker 1 (00:00):
Go to the hotline to bring in Tampa Bay Business
Journal Editor at large, Ashley Kreutzer. You can find her
work at Tampa Bay Business Journal dot com and you
can follow her on social media at Ashley Kreizer. So, Ashley,
as you all broke at the Tampa Bay Business Journal,
it's official, raised now under new ownership. We've talked a
lot about this in recent weeks, but did anything stand
(00:22):
out to you about the announcement the other day or
the roles that different members of the ownership group are
taking in running the organization.
Speaker 2 (00:31):
I think there's a couple of things I think, you know,
we didn't. I think it was rumored but not confirmed
that Will Weatherford was part of the ownership group. Obviously,
Will is a power player in Tampa Bay, and I
think that's another interesting sign that, you know, do they
intend to stay here in the Tampa Bay region. Will's
involvement suggests that's more likely than not. I just think,
you know, it's also symbolic right to see that deal
(00:53):
close and to finally have that finality that the Stu
Sternberg era is over for Tampa Bay and what does
it mean to have a new pro sports owner coming in.
I mean, look how Jeff Vinnick could transform the trajectory
of this reason. We'll see what the Patrick Zelewski era
looks like, but it has the potential.
Speaker 1 (01:11):
How quickly do you think we'll see progress on at
least narrowing down possible locations in the Tampa Bay area
for a new ballpark.
Speaker 2 (01:23):
I do think you'll see that pretty quickly. I think
they know that time is of the essence, and the
lease of the trap only runs through twenty twenty eight,
so they need I mean, I'm sure extensions are possible,
and I think St. Peter's City Council has alluded to that,
but I think they know that there is a real
sense of urgency here and that that is priority one.
So we'll see how that plays out. If there's a
proposal that goes public immediately, I mean, that would kind
(01:47):
of end the honeymoon period, right if they come forward
with a big ask of public money right out of
the gate. So it's a very important opportunity to shape
the perception of this new ownership group depending on how
they handle the stadium, the negotiations on that first swing.
Speaker 1 (02:02):
I can't imagine they got into this without having a
plan in mind, this does not seem like an ownership
group that would operate that way.
Speaker 2 (02:14):
I would agree with that, and I think Patrick Slewski's
background in real estate also it's going to come into
play as ken Babby as CEO. It seems like they
are set up to move on day one, and there's
certainly been rumblings of the conversations they're having in on
both sides of Tampa Bay. And because Orlando is still
in play, there's that to consider. So it does seem
like they're ready to go, and they have a plan.
(02:37):
What that plan is going to look like, how palatable
it is, especially the Hillsborough County commissioners, that's going to
be the big question.
Speaker 1 (02:42):
We're joined by Tampa Bay Business Journal Editor at Large
Ashley Kreitzer, talking about new ownership for the Rays, a
story that again the Tampa Bay Business Journal broke the
other day. So with the developer at the head of
this group, you have to figure a location that includes
a possibility of broader development around the ballpark that would
be more enticing than options that don't write.
Speaker 2 (03:06):
Oh, it's so enticing, And frankly, that's what Sternberg and
his team had in Saint Petersburg and with Pinellas County.
I mean, that was a fantastic deal for that team.
I don't think they'll ever see a sweetheart deal like
that again. I think with the Hurricanes and everything that
happened right after it, I don't think you're going to
see a deal like that again. But it was certainly
a hint of what could be. When you looked at
(03:27):
the development revenue, their partnership with Hines, a global real
estate developer, it shows what's possible. And we're not really
seeing stadiums in any league being built without that ancillary development.
If you look at the new stadium in Los Angeles,
which was privately funded Stan Cronky married into Walmart money
and there was no public subsidy in that deal. We
(03:47):
see it in Atlanta with the Braves and their stadium
in con County. So it is a model that's proven
to work. It's just where can that work in the
Tampa Bay region and how much public money are they
going to ask for.
Speaker 1 (03:58):
And we're also seeing it with some and renderings of
where the Chicago Bears may play if they move to
the suburbs that was released. Some of those initial renderings
the other day, last question for you, of the locations
that have been discussed in excluding Saint Pete because we
know that deal in what could be possible there. Of
the other locations discussed mainly on the Tampa side of
(04:20):
the Bay, which ones would offer the greatest amount of
redevelopment for this group?
Speaker 2 (04:27):
So I don't have a map in front of me
as we're speaking, So I believe some of those EBOR
properties are within the Community Redevelopment Agencies within the City
of Tampa. And a CRA is a state designated area
where all the tax all the taxes generated there stay there.
They're not swept into the general fund, so that gives
city leaders additional money to work with if they find
(04:48):
a site in a CRA. I believe that EVORE sites
that were in the running previously were in either the
EBOR or the Channel District cras, all.
Speaker 1 (04:55):
Right, So that's one certainly to keep an eye on.
Tampa Bay Business Journal Editor at large Ashley Kreutzer. Again,
you can find all of her work and a whole
lot more at Tampa Bay Business Journal dot com, and
you can also follow her on social media for more
two at Ashley Kreutzer Ashley really appreciate the insight. Thanks
so much.
Speaker 2 (05:12):
Thanks for having me the Ryan Gorman Show on NEWSRADIOFLA.
Speaker 1 (05:18):
Follow us on Facebook and Instagram at Ryan Gorman Show,
and find us online at Ryan Gormanshow dot com
Go to the hotline to bring in Tampa Bay Business
Journal Editor at large, Ashley Kreutzer. You can find her
work at Tampa Bay Business Journal dot com and you
can follow her on social media at Ashley Kreizer. So, Ashley,
as you all broke at the Tampa Bay Business Journal,
it's official, raised now under new ownership. We've talked a
lot about this in recent weeks, but did anything stand
(00:22):
out to you about the announcement the other day or
the roles that different members of the ownership group are
taking in running the organization.
Speaker 2 (00:31):
I think there's a couple of things I think, you know,
we didn't. I think it was rumored but not confirmed
that Will Weatherford was part of the ownership group. Obviously,
Will is a power player in Tampa Bay, and I
think that's another interesting sign that, you know, do they
intend to stay here in the Tampa Bay region. Will's
involvement suggests that's more likely than not. I just think,
you know, it's also symbolic right to see that deal
(00:53):
close and to finally have that finality that the Stu
Sternberg era is over for Tampa Bay and what does
it mean to have a new pro sports owner coming in.
I mean, look how Jeff Vinnick could transform the trajectory
of this reason. We'll see what the Patrick Zelewski era
looks like, but it has the potential.
Speaker 1 (01:11):
How quickly do you think we'll see progress on at
least narrowing down possible locations in the Tampa Bay area
for a new ballpark.
Speaker 2 (01:23):
I do think you'll see that pretty quickly. I think
they know that time is of the essence, and the
lease of the trap only runs through twenty twenty eight,
so they need I mean, I'm sure extensions are possible,
and I think St. Peter's City Council has alluded to that,
but I think they know that there is a real
sense of urgency here and that that is priority one.
So we'll see how that plays out. If there's a
proposal that goes public immediately, I mean, that would kind
(01:47):
of end the honeymoon period, right if they come forward
with a big ask of public money right out of
the gate. So it's a very important opportunity to shape
the perception of this new ownership group depending on how
they handle the stadium, the negotiations on that first swing.
Speaker 1 (02:02):
I can't imagine they got into this without having a
plan in mind, this does not seem like an ownership
group that would operate that way.
Speaker 2 (02:14):
I would agree with that, and I think Patrick Slewski's
background in real estate also it's going to come into
play as ken Babby as CEO. It seems like they
are set up to move on day one, and there's
certainly been rumblings of the conversations they're having in on
both sides of Tampa Bay. And because Orlando is still
in play, there's that to consider. So it does seem
like they're ready to go, and they have a plan.
(02:37):
What that plan is going to look like, how palatable
it is, especially the Hillsborough County commissioners, that's going to
be the big question.
Speaker 1 (02:42):
We're joined by Tampa Bay Business Journal Editor at Large
Ashley Kreitzer, talking about new ownership for the Rays, a
story that again the Tampa Bay Business Journal broke the
other day. So with the developer at the head of
this group, you have to figure a location that includes
a possibility of broader development around the ballpark that would
be more enticing than options that don't write.
Speaker 2 (03:06):
Oh, it's so enticing, And frankly, that's what Sternberg and
his team had in Saint Petersburg and with Pinellas County.
I mean, that was a fantastic deal for that team.
I don't think they'll ever see a sweetheart deal like
that again. I think with the Hurricanes and everything that
happened right after it, I don't think you're going to
see a deal like that again. But it was certainly
a hint of what could be. When you looked at
(03:27):
the development revenue, their partnership with Hines, a global real
estate developer, it shows what's possible. And we're not really
seeing stadiums in any league being built without that ancillary development.
If you look at the new stadium in Los Angeles,
which was privately funded Stan Cronky married into Walmart money
and there was no public subsidy in that deal. We
(03:47):
see it in Atlanta with the Braves and their stadium
in con County. So it is a model that's proven
to work. It's just where can that work in the
Tampa Bay region and how much public money are they
going to ask for.
Speaker 1 (03:58):
And we're also seeing it with some and renderings of
where the Chicago Bears may play if they move to
the suburbs that was released. Some of those initial renderings
the other day, last question for you, of the locations
that have been discussed in excluding Saint Pete because we
know that deal in what could be possible there. Of
the other locations discussed mainly on the Tampa side of
(04:20):
the Bay, which ones would offer the greatest amount of
redevelopment for this group?
Speaker 2 (04:27):
So I don't have a map in front of me
as we're speaking, So I believe some of those EBOR
properties are within the Community Redevelopment Agencies within the City
of Tampa. And a CRA is a state designated area
where all the tax all the taxes generated there stay there.
They're not swept into the general fund, so that gives
city leaders additional money to work with if they find
(04:48):
a site in a CRA. I believe that EVORE sites
that were in the running previously were in either the
EBOR or the Channel District cras, all.
Speaker 1 (04:55):
Right, So that's one certainly to keep an eye on.
Tampa Bay Business Journal Editor at large Ashley Kreutzer. Again,
you can find all of her work and a whole
lot more at Tampa Bay Business Journal dot com, and
you can also follow her on social media for more
two at Ashley Kreutzer Ashley really appreciate the insight. Thanks
so much.
Speaker 2 (05:12):
Thanks for having me the Ryan Gorman Show on NEWSRADIOFLA.
Speaker 1 (05:18):
Follow us on Facebook and Instagram at Ryan Gorman Show,
and find us online at Ryan Gormanshow dot com
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