Stuart L. Sternberg 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 in a Jewish family on Avenue M in the Canarsie neighborhood of New York'sBrooklyn borough, the son of Beverly and Samuel Sternberg, who owned a pillow shop on Flatbush Avenue. Sternberg's passion for baseball developed as a child while playing the game in the streets and playgrounds of his neighborhood. One of Sternberg's most cherished memories is of watching Sandy Koufax pitch while attending his first Major League game, with his father, at Shea Stadium in 1965. Sternberg has played in various organized baseball leagues over his lifetime and has coached his two sons' Little League teams for five years. He attended yeshiva through third grade, wearing a kippahevery day, and went to Canarsie High School.
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.
Sternberg purchased a 48% plurality-share in the previously named Devil Rays in May 2004 from Vince Naimoli, and took over as managing general partner in October 2005. 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.
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. However many Tampa Bay Rays fans said they'd hoped he would sell the Rays and buy the Mets, citing the owners lack of commitment to the area and the on field product.
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.” He further 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, which has been without an MLB franchise since the Montreal Expos moved to Washington, D.C. in 2005 to become the Washington Nationals.
Personal life
Sternberg currently resides in Rye, New York, with his wife, Lisa, and four children, Sanford, Jake, Natalie, and Ella.
