Billionaire Stephen Ross is exploring options to sell a minority stake in the Miami Dolphins, Hard Rock Stadium and the F1 Miami Grand Prix, according to a report from Sportico on Tuesday.
Ross reportedly has been talking to multiple investors since earlier this year, according to a Sportico source.
It is possible that Ross could decide not to sell at a later date, according to the source.
The talks are reportedly intended to provide Ross with capital to invest in new sports ventures.
Ross is worth $8.64 billion, according to Bloomberg, but Forbes pegs his net worth at $11.6 billion. He is the principal owner of the Dolphins which, including team-related businesses and real estate holdings, are worth $5.24 billion, per Sportico.
In 2022, the Dolphins had revenue of nearly $600 million and an operating profit of approximately $128 million.
He is also the principal owner of Hard Rock Stadium, which had total revenues of $129.8 million, according to Fitch Ratings.
Ross also owns the Miami International Autodrome, which runs around Hard Rock Stadium and had exclusive rights to host the Miami Grand Prix through the 2032 season. The Formula 1 Grand Prix was held there for the first time in 2022.
In addition to The Related Companies, a real estate development company he founded in 1972, Ross is also the 2012 co-founder of a private investment firm, RSE Ventures, which covers sports and entertainment, media and marketing, food and lifestyle, and technology.
Ross has been active in real estate development and philanthropy for four decades. His other holdings include the Miami Open tennis event as well as investments in the Equinox gym chain and SoulCycle.
Ross is the third NFL owner looking to sell a minority franchise stake. New Washington Commanders owners David Blitzer and Josh Harris need to divest their stakes in the Pittsburgh Steelers, and the Los Angeles Chargers have a 24 percent stake available.
–Field Level Media
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