Stuart 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.
Stuart L. Sternberg | |
|---|---|
| Born | 1959 (age 60–61) Brooklyn, New York, U.S. |
| Nationality | United States |
| Alma mater | St. John's University (B.A.) |
| Occupation | Investor |
| Known for | Owner of the Tampa Bay Rays |
| Spouse(s) | Lisa Kampfmann Sternberg |
| Children | 4 |
| Parent(s) | Beverly Tartell Sternberg Samuel Sternberg |
Early life
The youngest of three children, Sternberg was born and raised in a Jewish family[1] on Avenue M in the Canarsie neighborhood of New York's Brooklyn borough,[2] the son of Beverly (née Tartell) and Samuel Sternberg, who owned a pillow shop on Flatbush Avenue.[3][4] 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 kippah every day, and went to Canarsie High School.[5]
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.[6] 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.
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. 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.”[7] He further reiterated his stance and raised the specter of relocation after the Rays were eliminated from the playoffs that season.[8] 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.[9][10]
Personal life
Sternberg currently resides in Rye, New York,[11] with his wife, Lisa, and four children, Sanford, Jake, Natalie, and Ella.[4]
References
- Mendelsohn, Ezra (March 31, 2009). Jews and the Sporting Life: Studies in Contemporary Jewry XXIII. Oxford University Press. p. 98. ISBN 9780199724796.
- Schwarz, Alan (October 11, 2008). "Sternberg Leaves Wall Street, and Rays Have Profited". The New York Times. ISSN 0362-4331. Retrieved May 20, 2017.
- Rays’ Owner Has Brooklyn In Blood | New York Post
- "Paid Notice: Deaths - Sternberg, Beverly". The New York Times. January 30, 2007. ISSN 0362-4331. Archived from the original on February 9, 2010. Retrieved May 21, 2016.
- American Jews and America's Game: Voices of a Growing Legacy in Baseball - Larry Ruttman - Google Books
- "Cot's Baseball Contracts". Baseball Prospectus. Archived from the original on 2012-01-07. Retrieved May 20, 2017.
- Berthiaume, Steve (June 23, 2011). "Rays need to get out of Tampa Bay". ESPN. Retrieved May 20, 2017.
- Kernan, Kevin (October 5, 2011). "Rays owner says team could move anywhere". New York Post. Retrieved May 21, 2016.
- Madden, Bill (October 25, 2014). "Madden's World Series Confidential: Bud Selig nightmare is Cubs dream as manager Joe Maddon leaves Rays". New York Daily News. Retrieved May 20, 2017.
- Staff (October 26, 2014). "Rays owner discussed move to Montreal". TSN. Retrieved May 20, 2017.
- "Rays Executives". Tampa Bay Rays. Retrieved May 21, 2016.
Sources
Further reading
Ruttman, Larry (2013). "Stuart Sternberg: From Canarsie to Tampa Bay by Way of Wall Street". American Jews and America's Game: Voices of a Growing Legacy in Baseball. Lincoln, Nebraska and London, England: University of Nebraska Press. pp. 439–448. ISBN 978-0-8032-6475-5. 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.