Estefan, a Miami native, announced last week that she was purchasing a minority ownership stake in the Dolphins (along with her husband, Emilio). Estefan isn't the first celebrity to dabble in sports ownership. Here are some others through the years:
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Brooklyn-born rapper/businessman Jay-Z joined an ownership group which bought the New Jersey Nets for $300 million in 2004. The group, led by Brooklyn developer Bruce Ratner, is plotting to move the team from Continental Airlines Arena in Newark, NJ to a sparkling new stadium in co-owner Jay-Z's hometown. The move should get started during the 2011-2012 season, but no definitive actions have been made as of yet.
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The "Rapper/NBA team co-owner" trend caught fire in 2004. Soon after Jay-Z purchased a stake in the Nets, rapper Nelly joined the ownership group Bobcats Basketball Holdings, LLC -- the group which owns and operates the Charlotte Bobcats.
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Jon Bon Jovi
In 2004, Jon Bon Jovi paid a reported $8 million to cover half of the start-up costs for AFL's Philadelphia Soul. But life for the Philadelphia Soul has not been filled with "brotherly-love" as of late --- Bon Jovi and his partners are being sued by a former Soul sales manager for failing to pay $125,000 in wages and commissions.
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Hope, a lifelong golf lover who once putted against two-year-old Tiger Woods on The Mike Douglas Show, moved to Cleveland at the age of 5 and was a die-hard Indians fan. He became minority of the Indians after Bill Veeck acquired the team in 1946 and graced the June 1963 SI cover in an Indians uniform.
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George W. Bush
In 1989, shortly after helping his father get elected President of the United States, the future 43rd president purchased a share in the Texas Rangers. He was not a silent owner; Bush served as managing general partner for five years and regularly attended its games in the stands with fellow fans. He sold his share in 1998 for just over $15 million, a nice payout on his initial $800,000 investment.
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In 1997, Letterman purchased a small share of former Indianapolis 500 winner Bobby Rahal's racing team. The team changed its name to Rahal Letterman Racing in 2004 and had been a part of the IRL IndyCar Series until this year, when it went on hiatus due to lack of sponsorship.
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Murray, a lifelong Chicago Cubs fan, is minority owner of the St. Paul Saints. Unlike other owners, however, the actor doesn't just sit in the owner's box and watch the action. He has also served a number of tasks for the team over the years including selling programs outside the ballpark, coaching first base and according to the Saints' Web site, also serves as "Team Psychologist."
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Though John made his reputation as one of the best performers of all-time, his first love remains soccer. He pledges allegiance to one club, Watford, and bought an ownership stake in the club in 1976 until selling it nearly 30 years later. He currently holds the position of Watford's "Honorary Life President."
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Usher joined an investor group headed by Dan Gilbert, chairman and founder of Quicken Loans, in purchasing the Cleveland Cavaliers for $375 million in 2005. Gilbert said Usher's role would focus on improving entertainment side of events at Gund Arena.
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Reynolds was one of Hollywood's top actors when he took on a stake as minority owner of USFL's Bandits in 1982. The team's name was inspired by one of Reynolds' most popular movies, Smokey and the Bandit. The team folded (along with the league) three years later. Reynolds also co-owned a NASCAR Winston Cup team with Hal Needham, which ran the No. 33 Skoal Bandits car with driver Harry Gant.
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Though he swears allegiance to his hometown of Cleveland, Carey became minority owner of the expansion Seattle Sounders in 2007. Carey shares ownership of the team with Hollywood producer Joe Roth, Seattle businessman Adrian Hanauer and Microsoft co-founder Paul Allen.
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The late Paul Newman developed a passion for racing during filming of his 1969 film Winning. He became a successful driver on both the amateur and pro circuits and in 1983 added team owner to his resume. Newman paired with Carl Haas to form Newman-Haas racing (now called Newman-Haas-Lanigan Racing, a team that competes in the Indy Racing League's IndyCar Series). The team has won eight series championships.
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Turner is best known for leading the Tomahawk chop with his then-wife, Jane Fonda, during the Braves' playoff runs in the 1990s. But he was also an active participant with the team since purchasing it in 1976 and even managed the Braves for a game in 1977. Turner also owned the Hawks from 1976 to 2004 and also was owner and skipper of the yacht Courageous, which won the 1977 America's Cup.
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Canadian comedian John Candy became a part owner of the Toronto Argonauts in 1991 alongside hockey great Wayne Gretzky and sports executive Bruce McNall. The trio of celebrity owners led the Argonauts through a stellar season and to the 1991 Grey Cup.
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Lachey, perhaps best known as the ex-husband of Dallas Cowboy loving Jessica Simpson, is also an avid sports fan. In 2006, Lachey became a one-third owner of minor league baseball team Tacoma Rainiers, the Triple-A affiliate of the Seattle Mariners. Lachey had unsuccessfully attempted to become a part owner of his hometown Cincinnati Reds a few years prior.
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In 2006, Crowe and businessman Peter Holmes a Court purchased the struggling National Rugby League team for $3 million. Despite improving on the field, the franchise lost $4.2 million in 2007. With the team in last place in 2008 and reports of a disintegrating relationship, Crowe forced chairman and co-owner Holmes a Court to step down.
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In 1993, the popular novelist joined a team of investors to help purchase the Orioles from Eli Jacobs after Major League Baseball's first bankruptcy auction. He currently holds the position of Vice Chairman of Community Activities and Public Affairs for the team. In 1998, Clancy signed an agreement to purchase the NFL franchise Minnesota Vikings for a reported $205 million, but his divorce settlement proved to be so costly that Clancy could not complete the deal.
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McGraw, a high school football player, became a minority owner of the newly returned Kats in 2005. The franchise had moved to Atlanta in 2001 but the ownership group McGraw was a part of helped enable their return. The team's reemergence was short-lived, however as in October 2007, the franchise was shut down by Tennessee Titans owner Bud Adams for financial reasons.
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A talented harballer who once declined an offer to play in the minors, Autry was minority owner of the 1950s minor-league Hollywood Stars. When MLB announced its plans to add an expansion team in L.A., the Singing Cowboy jumped at the opportunity to own radio broadcast rights to the team's games. Autry's savvy business tactics caught the eyes of MLB executives, who persuaded him to become the first majority owner of the franchise that would eventually be known as the Anaheim Angels.
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