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Friday, December 8, 2023

Stephen Ross Looking To Sell Stake In Dolphins, Stadium, F1 Race

Miami Dolphins owner Stephen Ross talks to the media

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This past February, Miami Dolphins owner Stephen Ross was suspended and fined $1.5 million for tampering with Tom Brady while he was with the Buccaneers.

ProFootballTalk reported that Brady had planned on becoming a minority owner of the Dolphins when he announced his retirement in February of 2022.

Instead, Tom Brady ended up trying to purchase a stake in the Las Vegas Raiders. That deal was held up by league owners who felt he was getting too much of a discount from Raiders owner Mark Davis.

Now, Ross reportedly is looking to sell a piece of the Dolphins as well as Hard Rock Stadium in Miami and the F1 Miami Grand Prix.

Could Tom Brady now change his mind and swoop in to acquire part of the team he originally planned to purchase?

According to a report published on Tuesday by Eben Novy-Williams of Sportico, “Ross, who is worth $8.64 billion according to Bloomberg, is looking for capital to invest elsewhere in sports, the person said. His other holdings include the Miami Open tennis event and Relevent Sports, a soccer commercial rights agency that has a joint venture with LaLiga and recently sold UEFA broadcast rights in the U.S.”

Ross is the chairman and founder of The Related Companies, which has more than $60 billion in real estate assets owned or under development, according to Sportico. The real estate firm, the largest landlord in New York City, also manages about $4 billion in equity capital on behalf of sovereign wealth funds, public pension plans, endowments, and benefits plans.

The Miami Dolphins alone are estimated to be worth $5.24 billion.

Pieces of two other NFL teams are also currently on the market, should Brady’s deal with the Raiders fall through.

The Los Angeles Chargers still have 24 percent of the team’s ownership up for grabs, while new Washington Commanders owners Josh Harris and David Blitzer still haven’t sold their minority stakes in the Pittsburgh Steelers.

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