Friedman, 37, figures to lead the search for a new general manager.
Friedman has a background in finance. Before entering the baseball world, he was an analyst at Bear Stearns and an associate at MidMark Capital.
Friedman joined the Rays in 2004, initially as the director of baseball development.
In 2005, at the age of 28, he was named the team's general manager.
The Rays reached the
Friedman’s arrival marks the end of Colletti’s reign as general manager, which included five playoff appearances but also the failed high-priced signings of players such as
That penchant for expensive blunders is ultimately what cost Colletti his position, as he spent more than $30 million constructing a bullpen that was widely viewed as responsible for the Dodgers' first-round playoff elimination this year.
Colletti was prevented by ownership from making any midseason adjustments to the bullpen, people familiar with the situation said. Top prospects
The Dodgers were eliminated by the
The defeat to the Cardinals prevented the Dodgers from reaching their fourth NL Championship Series under Colletti. They were there in 2008, 2009 and 2013, each time falling two wins short of playing in the World Series.