"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 Rays said in a statement. "Neither the Rays nor the group will have further comment during the discussions."

Sportico reported the Tampa Bay Rays are in advanced talks to be sold to a Jacksonville group headed by Patrick Zalupski.

The owners of the Tampa Bay Rays are engaged in "advanced talks" over a sale that would value the franchise at $1.7 billion, according to Sportico's Scott Soshnick and Kurt Badenhausen.