Stephen Ross mentioned he’s seeking to promote a portion of the Miami Dolphins, after the worth of Nationwide Soccer League groups surged in recent times.
“I’m looking at now to monetize a portion of it,” the billionaire actual property developer mentioned on the FII Precedence occasion in Miami Seashore. “I never dreamed we’d be so fast at the valuations that are out there today.”
A Miami Dolphins stake sale may surpass the $6 billion a bunch led by investor Josh Harris paid for the Washington Commanders final 12 months, Bloomberg Information reported.
His feedback affirm earlier studies he was seeking to promote a minority stake of his sports activities empire, which together with the Dolphins consists of the Exhausting Rock Stadium and the F1 Miami Grand Prix. Citadel founder Ken Griffin is in talks to buy it, Bloomberg reported in November.
Ross, 83, paid $1 billion for 95% of the franchise in 2009, whereas additionally pouring $730 million into renovating the Exhausting Rock Stadium and surrounding areas. He has different sports activities ventures together with a soccer industrial rights company, which has a three way partnership with LaLiga.
“The community wants an owner who wants to win and will spend the resources to bring that,” mentioned Ross, who’s price $8.6 billion, in response to the Bloomberg Billionaires Index.
Ross made his feedback at a two-day convention backed by Saudi Arabia’s Public Funding Fund, which holds about $700 billion of sovereign cash and is a key investor throughout the globe. Matters ranged from AI and actual property to sports activities, and attendees ran the gamut of traders, politicians and celebrities, together with Gwyneth Paltrow.
Minutes earlier than Ross went on stage, Josh Harris mentioned he didn’t overpay for the Commanders, on the time the largest sports activities transaction in historical past.
“People will look back at the purchase of the Commanders and say ‘wow that was bargain’,” mentioned Harris, who runs 26North Companions and beforehand was a co-founder of Apollo Global Management Inc.
A day earlier, FIFA President Gianni Infantino made a last-minute look on the occasion from Dubai to speak up the 2026 World Cup, because the world’s largest sport occasion heads to Saudi Arabia in 2034.
“This year there’s a lot of sports because frankly there’s a lot of money in sports,” mentioned Richard Attias, chief govt of the FII Institute, organizer of the Miami Seashore occasion.
