TAMPA, Fla. — For the third time in just over a year, a group of minority partners in the Tampa Bay Rays have sued principal owner Stuart Sternberg, alleging he “wrongfully and surreptitiously” transferred control of the team to his own company without those partners’ knowledge.
Five partners who collectively own about 9.6% of the team filed the new suit Monday in Pinellas-Pasco Circuit Court, claiming the “fraudulent transfer” of the team to a company controlled by Sternberg “reduced to a mere shell” their partnership.
“These actions have stripped (the minority owners) of the value of their long-held investments in the franchise and team,” the suit states.
