Stephen Ross Attempts New Stake Sale for Miami Dolphins

A New Attempt to Sell a Stake in the Miami Dolphins

In a significant move within the N.F.L. landscape, Miami Dolphins owner Stephen Ross is making another attempt to sell a stake in the team. This effort comes months after his previous attempt to partner with billionaire Ken Griffin fell through. This time, Ross is exploring options that involve private equity firms.

Currently, Ross is in negotiations with several private equity groups, including Arctos Partners, as well as individual investors, aiming to sell a stake in the Dolphins at a valuation exceeding $7 billion. According to sources familiar with the discussions, this valuation reflects the growing interest and potential profitability of N.F.L. franchises.

Ross’s strategy seeks to create a unique deal within the N.F.L. framework. Alongside a stake in the Dolphins, the proposed transaction would also encompass partial ownership of the Miami Grand Prix, a high-profile Formula One event, as well as Hard Rock Stadium, which serves as the home arena for the team. Ross is considering selling as much as a 15 percent stake in the Dolphins along with these additional assets, which could significantly enhance the overall valuation and attract further interest from potential investors.

This potential transaction could pave the way for a reevaluation of franchise valuations across the N.F.L., possibly setting a new benchmark in the industry.

Discussions regarding the sale could culminate in approval as early as December during an N.F.L. owners meeting scheduled to take place in Dallas, as indicated by insiders familiar with the talks.

Previous negotiations with Griffin concluded in April. The hedge fund mogul aimed for a pathway to potentially take control of the Dolphins, whereas Ross expressed a desire to retain majority ownership within his family, leading to the breakdown of those discussions.