TAMPA -- Rays presidents Matt Silverman and Brian Auld have chosen to step down from their current roles as part of the club’s pending sale, the team announced on Wednesday.
The Rays confirmed in June that principal owner Stuart Sternberg had entered exclusive negotiations to sell the franchise to a group led by Patrick Zalupski in an agreement reportedly worth $1.7 billion.
In a press release on Wednesday, the Rays said the sale is “expected to close within the next two weeks pending final approvals,” with further information about the deal and the new ownership to come after the transaction is officially completed.
When the deal is closed, Silverman will no longer hold a formal role with the Rays, but will continue to represent Sternberg and his partners on an executive advisory board being established by the new ownership group. According to a recent report in The Athletic, Sternberg’s group will retain a 10 percent stake in the team after the sale.
“After two decades, this seemed like a good point to hit pause, reflect and consider what’s ahead,” Silverman said. “I’m deeply grateful for the teammates and colleagues who made this run so meaningful and helped the Rays become who we are.”
As team presidents, Silverman and Auld have led the club’s operations both internally and externally. The sale of the team will also mark the end of an era for those two, friends since they met in high school in Dallas and graduated one year apart.
“Don't want to get emotional, but it's a tough day,” Rays manager Kevin Cash said Wednesday afternoon at George M. Steinbrenner Field. “I think I'm going to need some time to process that, because Matt and Brian are very special to me.”
This is Silverman’s 22nd season with the Rays and his 17th as team president. Having previously worked closely with Sternberg at Goldman Sachs and orchestrated his purchase of the team, Silverman was named club president on Oct. 6, 2005, at the age of 29.
In addition to his duties on the business side of the organization, Silverman stepped into the role as president of baseball operations in October 2014, after Andrew Friedman left to join the Dodgers. In that role, Silverman hired Cash as manager two months later and guided Erik Neander into his position as the team’s top baseball executive.
Silverman moved back into the club president role in November 2017 and has served in that capacity ever since.
“It has been one of the greatest joys of my life to serve the Rays and help make a lasting impact on the Tampa Bay region. What makes me proudest is seeing how the Rays have become woven into the region’s identity, with a true generational fan base taking shape,” Silverman said in a statement. “Children who once came to games are now bringing their own families, and that sense of connection will continue to grow for decades to come. Under Stu’s leadership, we have fulfilled our mission to energize the community through the magic of Rays baseball.
“I leave with deep gratitude for our players, staff, and supporters, and with great excitement for all that lies ahead for the Rays and for Tampa Bay.”
This is Auld’s 21st season with the Rays and his 11th in his current role. While he will no longer be a team president, he will remain with the Rays as a senior advisor to ownership and the leadership team during the transition and beyond.
“This organization has never only been about the wins and losses, it’s been about heart, purpose, and community,” Auld said in a statement. “I’m deeply proud of all we’ve built together, and that pride comes from sharing this journey with some of the most dedicated, talented, and creative people I’ve ever known.
“As I prepare to step down as president, I’m thankful to remain part of the Rays as a senior advisor, continuing to support the incredible team that makes this place so special.”