Stuart Sternberg, Rays Owner, Sued By Shareholders: Report

ST. PETERSBURG, FL — Stuart Sternberg, the primary owner of the Tampa Bay Rays, has been accused by several of the team's minority owners of having Rays investment conversations with Montreal investors dating back to 2014, a report said.

A lawsuit filed Saturday in Pinellas County by the minority owners states that Sternberg allegedly deprived the minority owners of their profits from the team while simultaneously requiring them to pay taxes on that would-be income, the Tampa Bay Times reported. The lawsuit states that in January 2020, he transferred "the entire baseball and franchise" to a new company under his sole management, without notifying the other partners, the newspaper reported.

The suit was filed by a group that owns about 9.6 percent of the Rays. The plaintiffs include Robert Kleinert, Gary Markel, Stephen M. Waters and a trust bearing his name, and the MacDougald Family Limited Partnership LLLP, the outlet reported.

For the full story, visit the Tampa Bay Times.

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