In a significant financial maneuver within the NFL landscape, Miami Dolphins owner Stephen Ross has divested part of his stake in the team along with related assets, yet he remains firmly in control of the franchise. At the NFL owners meeting in Dallas, the league greenlit the transaction involving Ares Management Fund, and Brooklyn Nets owners Joe Tsai and Oliver Weisberg. Not just limiting the sale to the Dolphins, the deal also covers Hard Rock Stadium and the Formula 1 Crypto.com Miami Grand Prix.
Diving into the specifics, Ross is offloading 13% of the team’s ownership. This includes the maximum permissible 10% allocation to Ares Management, a private equity firm pre-approved by the NFL, and an additional 3% primarily directed to Joe Tsai, who holds ownership stakes in the NBA’s Brooklyn Nets and the WNBA’s New York Liberty.
This transaction follows recent NFL policy changes allowing franchises to seek private equity investment, though capped at 10% and requiring pre-approved firms. With the Dolphins valued at a staggering $7.1 billion as reported by CNBC, Ross is set to realize about $900 million by relinquishing this minority slice.
Tracing back to Ross’s initial investment in 2009—scooping up the Dolphins for $1.1 billion—this sale marks an astute financial return, nearly recouping his initial outlay from the partial sale alone.
Reflecting on the move, Ross shared, “In our drive to construct a top-tier organization, we attracted considerable interest from investors, allowing us to be discerning in selecting partners whose values align with our vision. Welcoming Ares, Joe, and Ollie into our investment fold is a pleasure, as they bring substantial expertise and a shared dedication to innovation and first-class operations. This transaction’s resources will underpin ongoing investments in the Dolphins, additional sports ventures, and South Florida real estate, catalyzing progressive growth in the region for the long haul.”
It’s important to note, as highlighted in the Dolphins’ official statement, the sale represents a minority, non-controlling interest. Supporting this dynamic, Bruce Beal Jr. retains his responsibilities as vice chairman and partner, ensuring continuity in leadership as the Dolphins chart their ambitious future path.