Stephen Ross to sell part of Dolphins at $8.1 billion valuation
Miami Dolphins owner Stephen Ross is preparing to sell a portion of his NFL franchise at a significant $8.1 billion valuation. Despite the Dolphins’ rocky start to the 2024 season, sitting at 1-3, Ross continues to make strategic moves on the business front, signaling a potential shift in the team’s ownership structure.
According to Randall Williams of Bloomberg, Ross is in advanced discussions to sell 13 percent of the Miami Dolphins, Hard Rock Stadium, and the Formula 1 Miami Grand Prix. Initially, it was reported that Ross was seeking to sell 15 percent of these assets at a $7 billion valuation, but the figure has now increased to $8.1 billion.
Stephen Ross to sell Dolphins stake as Ares Management and Joe Tsai expand ownership
Of the 13 percent being sold, 10 percent is expected to go to Ares Management, a private equity firm approved by the NFL to purchase stakes in multiple teams. Ares Management’s potential investment is significant as private equity firms were only recently permitted to invest in NFL franchises, following a policy change in August that allows such firms to own up to 10 percent of multiple teams.
The remaining 3 percent is set to be sold to Joe Tsai, owner of the Brooklyn Nets and New York Liberty. Tsai’s involvement would further expand his already impressive sports portfolio, adding the Dolphins to his existing basketball holdings.
The deal is expected to be finalized at the NFL’s December 2024 ownership meetings. If approved, it will mark one of the first significant transactions under the NFL’s new ownership rules, which allow private equity firms to invest in NFL franchises, heralding a new era in sports ownership.
The Dolphins, meanwhile, are aiming to reverse their challenging 2024 season start, currently sitting at 1-3 and searching for consistency on the field. Despite these struggles, Stephen Ross’s decision to sell a portion of his ownership marks a major move in his broader strategy to enhance the team’s financial standing. The sale not only reflects Ross’s ongoing efforts to capitalize on the franchise’s long-term value but also highlights his focus on securing lucrative partnerships that could strengthen the Dolphins’ position both on and off the field.
The post Stephen Ross to sell part of Dolphins at $8.1 billion valuation appeared first on ClutchPoints.
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