28.9 C
Beijing
Friday, May 30, 2025

Apple, Huawei, Xiaomi Lead China’s Top Online Consumer Brands

Apple, Huawei Technologies, and Xiaomi have emerged...

Stablecoins Gain Traction as Hong Kong and US Move Toward Regulation

The rise of stablecoins continues to shape...

Xiaomi Launches YU7 SUV to Challenge Tesla Model Y in China’s EV Market

Tesla’s dominance in China’s premium electric vehicle...

Miami Dolphins in Talks to Sell Minority Stake to Ares Management and Joe Tsai

BusinessMiami Dolphins in Talks to Sell Minority Stake to Ares Management and Joe Tsai

The Miami Dolphins are in advanced discussions to sell a minority stake in the team to private equity firm Ares Management and billionaire Joe Tsai, owner of the Brooklyn Nets. The deal, which also includes Hard Rock Stadium, operating rights for the Miami Grand Prix, and about half of the Miami Open, is valued at $8.1 billion, according to sources close to the negotiations.

The negotiations come after the NFL recently allowed private equity firms to invest up to a 10% stake in teams, marking a significant shift for the league. This would be the first private equity investment under the new rules, which were approved by NFL owners in August 2023.

The proposed sale would see Ares Management acquiring a 10% stake in the Dolphins, while Joe Tsai is expected to buy an additional 3%. Tsai, who has been actively expanding his sports portfolio, already owns the Brooklyn Nets, New York Liberty, and operates Barclays Center, along with other sports franchises in lacrosse and Major League Soccer.

Although nothing has been finalized, and there is no set timeline for the deal, the proposed sale highlights a broader trend of team owners expanding their sports holdings and stadium operations to maximize revenue. The Dolphins, who generated $673 million in revenue in 2023, are valued as one of the most valuable franchises in the NFL. A full controlling valuation of the Dolphins, Hard Rock Stadium, and related assets would reportedly exceed $10 billion.

Stephen Ross, who purchased the Dolphins in 2009 for $1.1 billion, is expected to use the proceeds from the minority sale to further his South Florida real estate investments and expand his sports ventures. Ross, CEO of Related Companies, is one of the few NFL owners who owns and operates the team’s stadium, enabling him to generate additional revenue from events like the Miami Grand Prix and the Miami Open tennis tournament.

Earlier this year, Ross turned down a record $10 billion offer for full control of the Dolphins, preferring to keep the franchise in his family. The recent discussions with Ares and Tsai demonstrate how private equity investments are becoming more appealing as valuations of sports franchises continue to soar. Ares Management, which oversees $450 billion in assets, is one of the few firms approved by the NFL for team investments, positioning it as a key player in the evolving landscape of professional sports ownership.

READ MORE:

Check out our other content

Check out other tags:

Most Popular Articles