There could be a change coming to the ownership group of the Miami Dolphins.
Dolphins owner Stephen Ross is in talks to sell a minority stake in the team, Hard Rock Stadium and F1 Miami to businessman Ken Griffin, according to reports. Other individuals may also be involved in discussions.
Griffin is an extremely successful hedge fund manager, entrepreneur and investor. The NFL is reportedly aware of the talks.
SLATER SCOOP: Dolphins owner Stephen Ross is in talks to sell a minority stake in the team, Hard Rock Stadium, and F1 Miami to hedge-fund manager Ken Griffin, multiple sources tell me.
The NFL is also aware, sources say.
Griffin is worth $35B, Forbes shows. pic.twitter.com/6j3trrrHX5
— Andy Slater (@AndySlater) November 21, 2023
Per league source, talks are preliminary and as Andy said, it would be for minority stake in all 3. Ross' thinking is to raise additional funds to further invest in real estate and sports. He's not selling team, stadium or F1 Miami. https://t.co/59rjNzbLd6
— Barry Jackson (@flasportsbuzz) November 21, 2023
#Dolphins owner Steve Ross is looking for capital to further invest in real estate and sports, and has spoken with Citadel’s Ken Griffin (and others) about a minority stake in the Dolphins, Hard Rock Stadium and the Miami F1 race. No deal is in place yet, per league source. https://t.co/oOE53Imbl3
— Safid Deen 💯💯💯💯 (@Safid_Deen) November 21, 2023
Ross initially bought 50 percent of the team and stadium in 2008, and he purchased an additional 45 percent the following year. He has served as the team’s majority owner since then, and since he is currently looking to sell only a minority stake in the team, it seems that he’s likely to remain in that role.
Unfortunately for fans in Miami, the Dolphins haven’t had a ton of success on the field since Ross got involved. The team has only made the playoffs three times since the start of the 2008 season, losing in the wild card round each time. Most recently, the Dolphins lost to the Buffalo Bills 34-31 in the wild card round last season.
Perhaps this year will be different, though. Through 10 games of action, Miami sits atop the AFC East with a 7-3 record and an extremely potent offense. The Dolphins currently lead the league in yards per game and points per game, and they look like real threats to make the playoffs and potentially even win their first postseason game since the 2000 season.
Heading into the current campaign, the Dolphins ranked as the 12th-most valuable franchise in the NFL with an estimated value of $5.2 billion, according to Sportico, representing a 29 percent increase over the previous year. With an estimated value of $9.2 billion, the Dallas Cowboys unsurprisingly ranked as the league’s most valuable franchise.
Given how valuable the Dolphins are — and the fact that NFL teams seem to increase in value annually — it makes sense that Ross isn’t interested in giving up his majority stake in the team at this time. It’s also understandable that Griffin is interested in purchasing part of the franchise.
While there may be a sale brewing behind the scenes, the Dolphins still have to take care of business on the field. Their next game comes against the New York Jets on Black Friday.