Jacksonville business landscape continues to make waves in the sports world as Dream Finders Homes CEO Patrick Zalupski leads a group in exclusive negotiations to purchase the Tampa Bay Rays. The news, confirmed by the team on June 18, echoes a similar move made over 50 years ago when Jacksonville tax attorney Hugh Culverhouse became the first owner of the NFL’s Tampa Bay Buccaneers in 1974.
Zalupski’s investment group, which includes Jacksonville Jumbo Shrimp owner Ken Babby, is reportedly pursuing the Rays with a $1.7 billion offer, according to Sportico. Although the Rays did not confirm the price, they acknowledged the negotiations. Forbes recently valued Zalupski’s net worth at $1.3 billion, built largely through his stake in Dream Finders. Founded in 2008, the company now brings in over $4.4 billion in annual revenue.
Zalupski controls over 63% of Dream Finders’ stock through a special Class B share structure, giving him enhanced voting rights. While another potential buyer, Memphis hedge fund founder Trip Miller, has expressed interest in outbidding Zalupski, the Rays emphasized there would be no further comment during ongoing negotiations.
PGA Tour Names New CEO Amid LIV Uncertainty
The PGA Tour, headquartered in Ponte Vedra Beach, Florida, announced a major leadership transition on June 17. NFL executive Brian Rolapp will succeed Jay Monahan as commissioner in 2026 and has already assumed the role of CEO for both PGA Tour Inc. and PGA Tour Enterprises.
PGA Tour Enterprises was launched in 2024 with $1.5 billion in private equity investment, creating a for-profit arm distinct from the nonprofit organization. The move has stirred discussions about transparency in operations and the stalled merger with LIV Golf, which remains unresolved two years after its initial announcement.
Speaking at the Travelers Championship, Rolapp avoided specifics on the LIV deal, emphasizing that he needs to learn more before taking a stance. He acknowledged the significance of the capital injection and hinted at future strategies but remained tight-lipped about deployment plans. The PGA Tour’s expanded facilities in St. Johns County, including a massive new headquarters and production studio, further underscore its growing footprint in the region.
Jacksonville business Executives Boost Sports and Tech Investments
Several Jacksonville business-connected companies are expanding their global reach. Bill Foley, chairman of Fidelity National Financial and the man behind the NHL’s Vegas Golden Knights, continues to invest in European soccer. His Black Knight Football Club, backed by Cannae Holdings, recently acquired a majority stake in Portugal’s Moreirense Futebol Clube, adding to its international sports portfolio.
Meanwhile, Jacksonville business-based Redwire Corp. raised $244.9 million through a secondary stock sale on June 18 to help fund its $925 million acquisition of drone company Edge Autonomy. The deal strengthens AE Industrial Partners’ majority control over Redwire, holding a 55% stake post-sale.
In a separate development, PureCycle Technologies, which briefly headquartered in Jacksonville business in 2024, announced a $300 million capital raise. The recycled plastic innovator reported its first revenue this year and plans to scale operations from its main facility in Ironton, Ohio. Following the funding news, PureCycle’s stock surged to a 52-week high of $15.47 on June 17.
