Stuart L. Sternberg (born August 8, 1959) is an American
Wall Street
Wall Street is a street in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It runs eight city blocks between Broadway (Manhattan), Broadway in the west and South Street (Manhattan), South Str ...
investor. He is the principal shareholder of the ownership group that owns the
Tampa Bay Rays
The Tampa Bay Rays are an American professional baseball team based in the Tampa Bay area. The Rays compete in Major League Baseball (MLB) as a member club of the American League (AL) American League East, East Division. They are one of two major ...
and acts as the team's Managing General Partner since November 2005.
Early life
The youngest of three children, Sternberg was born on August 8, 1959, and raised in a
Jewish
Jews (, , ), or the Jewish people, are an ethnoreligious group and nation, originating from the Israelites of History of ancient Israel and Judah, ancient Israel and Judah. They also traditionally adhere to Judaism. Jewish ethnicity, rel ...
Canarsie
Canarsie ( ) is a mostly residential neighborhood in the southeastern portion of Brooklyn, New York City. Canarsie is bordered on the east by Fresh Creek Basin, East 108th Street, and Louisiana Avenue; on the north by Linden Boulevard; on th ...
neighborhood of New York's
Brooklyn
Brooklyn is a Boroughs of New York City, borough of New York City located at the westernmost end of Long Island in the New York (state), State of New York. Formerly an independent city, the borough is coextensive with Kings County, one of twelv ...
borough He is the son of Beverly (née Tartell) and Samuel Sternberg and his parents owned a pillow shop on
Flatbush Avenue
Flatbush Avenue is a major avenue in the New York City Borough (New York City), Borough of Brooklyn. It runs from the Manhattan Bridge south-southeastward to Jamaica Bay, where it joins the Marine Parkway–Gil Hodges Memorial Bridge, which ...
. His passion for baseball developed in his childhood while playing the game in the streets and playgrounds of his neighborhood. One of Sternberg's most cherished memories is when he saw
Sandy Koufax
Sanford Koufax (; né Braun; born December 30, 1935), nicknamed "the Left Arm of God", is an American former baseball pitcher who played 12 seasons in Major League Baseball (MLB) for the Brooklyn Dodgers, Brooklyn/Los Angeles Dodgers from 195 ...
pitch while attending his first Major League game with his father at
Shea Stadium
William A. Shea Municipal Stadium ( ), typically shortened to Shea Stadium, was a multi-purpose stadium in Flushing Meadows–Corona Park in Queens, New York City.Little League teams for five years. He attended
yeshiva
A yeshiva (; ; pl. , or ) is a traditional Jewish educational institution focused on the study of Rabbinic literature, primarily the Talmud and halacha (Jewish law), while Torah and Jewish philosophy are studied in parallel. The stu ...
through third grade, wearing a
kippah
A (plural: ''kippot''), , or is a brimless Jewish cap, skullcap, usually made of cloth, traditionally worn by Jewish men to fulfill the customary requirement that the Head covering, head be covered. It is the most common type of head-coverin ...
every day and went to
Canarsie High School
Canarsie High School was a public high school in the Brooklyn neighborhood of Canarsie in New York City. It first opened in 1964 but closed in 2011. The building currently operates as Canarsie Educational Campus, housing several smaller high sc ...
.
Career in the financial services industry
In 1978, Sternberg began his professional career trading equity options part-time at the
American Stock Exchange
NYSE American, formerly known as the American Stock Exchange (AMEX), and more recently as NYSE MKT, is an American stock exchange situated in New York City. AMEX was previously a mutual organization, owned by its members. Until 1953, it was known ...
while attending St. John's University earning a degree in finance. After college Sternberg was hired by investment group Spear, Leeds & Kellogg, and he eventually became a partner in the firm before he moved to
Goldman Sachs
The Goldman Sachs Group, Inc. ( ) is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered in Lower Manhattan in New York City, with regional headquarters in many internationa ...
. In 2002 he retired from the company as a partner. He has served on several 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
Vincent Joseph Naimoli (September 16, 1937 – August 25, 2019) was an American businessman, and the first owner of the Major League Baseball team the Tampa Bay Devil Rays.
Biography
Naimoli's father was an Italian immigrant who worked for the ...
and took over operations becoming a managing general partner in October 2005. He structured his bid for controlling interest in the team with fellow Goldman Sachs partner
Matthew Silverman
Matthew Silverman (born May 20, 1976) is an American professional baseball executive. He is currently the co-president, along with Brian Auld, of the Tampa Bay Rays of Major League Baseball (MLB).
Biography
Silverman is Jewish and was raised ...
whom he hired as the team's president.
Frustration with the Rays in St. Petersburg
Remarkably, between 2019 and 2023, the Rays qualified for the playoffs every season despite the fact that they play in the same East Division as the
Boston Red Sox
The Boston Red Sox are an American professional baseball team based in Boston. The Red Sox compete in Major League Baseball (MLB) as a member club of the American League (AL) American League East, East Division. Founded in as one of the Ameri ...
and
New York Yankees
The New York Yankees are an American professional baseball team based in the Boroughs of New York City, New York City borough of the Bronx. The Yankees compete in Major League Baseball (MLB) as a member club of the American League (AL) Am ...
, who perennially have amongst the highest player payrolls in the major leagues. Yet attendance for home games at
Tropicana Field
Tropicana Field (nicknamed "The Trop") is a domed multipurpose stadium located in St. Petersburg, Florida, United States. "The Trop" was the home of the Tampa Bay Rays of Major League Baseball (MLB) from 1998 Tampa Bay Devil Rays season, 1998 to ...
in St. Petersburg has been among the lowest in the big leagues over the years. In a June 2011 ''
Tampa Tribune
''The Tampa Tribune'' was a daily newspaper published in Tampa, Florida. Along with the competing ''Tampa Bay Times'', the ''Tampa Tribune'' was one of two major newspapers published in the Tampa Bay area.
The newspaper also published a ''St. P ...
'' interview, Sternberg remarked, "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." He reiterated his stance and raised the specter of relocation after the Rays were eliminated from the playoffs that season. 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
Montreal is the List of towns in Quebec, largest city in the Provinces and territories of Canada, province of Quebec, the List of the largest municipalities in Canada by population, second-largest in Canada, and the List of North American cit ...
, which has not had an MLB franchise since the
Montreal Expos
The Montreal Expos () were a Canadian professional baseball team based in Montreal. The Expos were the first Major League Baseball (MLB) franchise located outside the United States. They played in the National League (baseball), National League ...
moved to Washington, D.C. in 2005 to become the
Washington Nationals
The Washington Nationals are an American professional baseball team based in Washington, D.C. The Nationals compete in Major League Baseball (MLB) as a member club of the National League (NL) East Division. They play their home games at Na ...
.
In March 2025, the Tampa Bay Rays announced the organization would be pulling out of its deal to build a stadium in St. Petersburg, resulting in pressure from local officials and fans for Sternberg to sell the team.
Personal life
Sternberg currently resides in
Rye, New York
Rye is a city in Westchester County, New York, United States, within the New York metropolitan area, New York City metropolitan area. It received its charter as a city in 1942, making it the most recent such charter in the state. Its area of ...
with his wife, Lisa, and four children, Sanford, Jake, Natalie, and Ella.