All Dolphins

Ross Sells Limited Interest in Dolphins

The NFL approved the minority, non-controlling interest sale Wednesday
Alain Poupart|
Dolphins owner Stephen Ross (left) talks with general manager Chris Grier before a game in November 2022.
Dolphins owner Stephen Ross (left) talks with general manager Chris Grier before a game in November 2022. | JIM RASSOL / USA TODAY NETWORK

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Miami Dolphins

Owner Stephen Ross has sold part of the Miami Dolphins and related assets, but there will be no ramifications regarding the team because he will maintain control.

The NFL approved the sale at the owners meetings in Dallas on Wednesday to Ares Management Fund and Brooklyn Nets owners Joe Tsai and Oliver Weisberg. In addtion to the team, the transaction also involves Hard Rock Stadium and the Formula 1 Crypto.com Miami Grand Prix.

According to Andrew Brandt, author of the Sports Illustrated "Business of Football" column, Ross is selling 13% of the team. That includes the maximum allowable 10% to another pre-approved private equity firm, Ares Management. The other 3% will primarily go to Tsai, the owner of the NBA’s Brooklyn Nets and WNBA’s New York Liberty.

The move comes after the NFL earlier this year decided to allow its teams to pursue private equity funding, albeit only with pre-approved firms and only up to 10% of the franchise price. With a $7.1 billion valuation (per CNBC), Ross is generating roughly $900 million by liquidating 13 percent of the franchise value.

Ross bought the Dolphins in 2009 for $1.1 billion. He is almost making a full return on that investment by selling 13 percent.

“As we continue our relentless pursuit of building a best-in-class organization, we were fortunate to attract significant interest from multiple investors, which gave us the opportunity to be highly selective in choosing partners who align with our core values and long-term vision,” Ross said in a statement. “I couldn’t be happier to welcome Ares, Joe, and Ollie to our investment group. They each bring invaluable expertise to the table, with a shared commitment to innovation, growth and doing things first class. Together, with the resources from this transaction, we will prioritize continued investment into the Dolphins, additional sports assets and South Florida real estate to fuel dynamic growth and innovation in the region for years to come.”

As indicated in the Dolphins' press release regarding the sale, the sale involves minority, non-controlling interest.

Bruce Beal Jr. will continue in his role as vice chairman and partner.

Marc Anthony, Fergie, Serena Williams and Venus Williams remain as limited partners.

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Alain Poupart
ALAIN POUPART

Alain Poupart is the publisher/editor of Miami Dolphins On SI and host of the All Dolphins Podcast. Alain has covered the Miami Dolphins on a full-time basis since 1989 for various publications and media outlets, including Dolphin Digest, The Associated Press and the Dolphins team website. In addition to being a credentialed member of the Miami Dolphins press corps, Alain has covered three Super Bowls (for NFL.com, Football News and the Montreal Gazette), the annual NFL draft, the Senior Bowl, and the NFL Scouting Combine. During his almost 40 years in journalism, which began at the now-defunct Miami News, Alain has covered practically every sport at one time or another, from tennis to golf, baseball, basketball and everything in between. The career also included time as a copy editor, including work on several books, such as "Still Perfect," an inside look at the Miami Dolphins' 1972 perfect season. A native of Montreal, Canada, whose first language is French, Alain grew up a huge hockey fan but soon developed a love for all sports, including NFL football. He has lived in South Florida since the 1980s.

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