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Stuart Sternberg

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Stuart Sternberg

Stuart L. Sternberg
Born 1959 (age 55–56)
Nationality United States
Ethnicity Jewish
Alma mater B.A. St. John's University
Occupation investor
Known for owner of the Tampa Bay Rays
Spouse(s) Lisa Kampfmann Sternberg
Children four
Parents Beverly Tartell Sternberg
Samuel Sternberg

Stuart L. Sternberg (born 1959 in Brooklyn, New York) is a Wall Street investor. He is the principal shareholder of the ownership group that owns the Tampa Bay Rays, and has acted as the team's Managing General Partner since November 2005.

Early life

The youngest of three children, Sternberg was born and raised to a Little League teams for five years.

Career in the financial services industry

In 1978, Sternberg began his professional career trading equity options part-time at the American Stock Exchange while attending St. John's University, where he earned a degree in finance. After college, Sternberg was hired by investment group Spear, Leeds & Kellogg, eventually becoming a partner in the firm before moving to Goldman Sachs, retiring from that company as a partner in 2002. He has served on various committees and advisory boards in the financial securities industry.

Major League Baseball

Purchasing the Tampa Bay Devil Rays

Sternberg purchased a 48% plurality-share in the previously named Devil Rays (now known as the Tampa Bay Rays) in May 2004 from Vince Naimoli, and took over as Managing General Partner in October 2005.[4] He arranged his bid for controlling interest in the team with fellow Goldman Sachs partner Matthew Silverman, whom he hired as the team's President. He has remained a low key owner, who currently sees his primary goal with the team as getting their finances in order.

Interest in buying the New York Mets

In February 2011, an article in Business Insider speculated that Sternberg may be a potential owner of the New York Mets. Two major factors that support theory is that Sternberg is a Mets season ticket holder and that Sternberg has expressed negative feelings about the Rays due to low fan attendance. However this was proven wrong in a recent interview. He said he was happy with The Rays and has no interest in buying any other team.

Frustrated with the Rays in St. Petersburg

In a June 2011, Tampa Tribune interview he said “I know we can’t sustain ourselves like this. It hasn’t gotten better. If anything, it’s worse. To run a payroll like we do now, basically the second-lowest in baseball, and barely keep our nose above water, we can’t sustain that. Baseball is just not going to stand for it anymore. And they’ll find a place for me. They won’t find a place here though.” [5] He further reiterated his stance and raised the specter of relocation after the Rays were eliminated from the playoffs that season.[6] However he has stated several times that he is staying with the team and they are not moving anywhere within the coming years.

In October 2014, it was reported that Sternberg, frustrated with efforts to build a new stadium in the Tampa Bay area, had discussions with Wall Street associates about moving the Rays to Montreal, which has been without a MLB franchise since the Montreal Expos moved to Washington, D.C. in 2005 to become the Washington Nationals.[7][8]

Personal life

Sources

  • FRONT OFFICE DIRECTORY
  • Team's new boss: 'Baseball junkie' with business savvy
  • An Open Letter to Stuart Sternberg from BaseLine Report: Why There is Hope for the Rays

References

  1. ^ Mendelsohn, Ezra, Jews and the Sporting Life: Studies in Contemporary Jewry XXIII edited by Institute of Contemporary Jewry Hebrew University of Jerusalem p. 98
  2. ^ New York Times: "Fan Exits Wall Street, and the Rays Profit" By ALAN SCHWARZ October 11, 2008
  3. ^ New York Times: "Paid Notice: Deaths STERNBERG, BEVERLY" January 30, 2007
  4. ^ http://mlbcontracts.blogspot.com/2005/01/tampa-bay-devil-rays_112131227267025321.html
  5. ^ http://espn.go.com/blog/sweetspot/post/_/id/12730/rays-need-to-get-out-of-tampa-bay
  6. ^ Kernan, Kevin (October 5, 2011). Rays owner says team could move anywhere. New York Post. Retrieved October 5, 2011.
  7. ^ "MLB commish Bud Selig's nightmare is Cubs dream as Joe Maddon leaves Rays". New York Daily News. October 24, 2014. 
  8. ^ "Report: Rays owner discussed move to Montreal". TSN. October 26, 2014. 

Further reading

  This chapter in Ruttman's oral history, based on an April 20, 2009 interview with Sternberg conducted for the book, discusses Sternberg's American, Jewish, baseball, and life experiences from youth to the present.

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