Miami Dolphins owner Stephen Ross recently found himself at the center of a jaw-dropping financial proposition. Sources reveal that Ross entertained a remarkable $10 billion offer for control of not only the Dolphins but also Hard Rock Stadium and the Formula One (F1) Miami Grand Prix1. This astronomical figure nearly matches the combined record-setting sales of other NFL franchises, making it a headline-worthy development in the sports business world.
Miami Dolphins owner Stephen Ross has turned down a $10 billion offer for control of the franchise, Hard Rock Stadium, and the F1 Miami Grand Prix, according to USA Today.@_DavidRumsey has more ⬇️
— Front Office Sports (@FOS) May 2, 2024
The Offer Details
The eye-popping offer came from billionaire Ken Griffin, the founder of Citadel hedge fund and considered the richest person in Florida with a net worth of $35.4 billion. Griffin was in negotiations for a minority stake in the Dolphins, Hard Rock Stadium, and the F1 race, valued at an impressive $7.5 billion. However, talks amicably ceased before Griffin could propose the controlling $10 billion offer.
Stephen Ross’s Decision
Despite the staggering sum, Stephen Ross declined the offer. His motivation? A desire to keep these valuable assets within his family. Stephen Ross has privately invested over $1 billion into Hard Rock Stadium since 2008, transforming it into a premier venue for major sporting events. Hosting Super Bowls, college football national title games, and even the upcoming Copa America final and World Cup games in 2026, Ross’s commitment to enhancing the stadium’s infrastructure has been unwavering.
The F1 Miami Grand Prix
Ross’s involvement extends beyond the NFL. He also owns the F1 Miami Grand Prix, a high-profile racing event that took place in Miami. The massive undertaking in 2022 transformed the stadium’s parking lot into a world-class racetrack, attracting motorsport enthusiasts and boosting F1’s expansion in the United States. Despite facing strong local opposition for a downtown Miami street race, Ross remained committed to bringing the excitement of Formula One to the city.
Innovative Revenue Streams
The Dolphins organization has earned praise for its innovation and aggressive pursuit of additional revenue streams. Cowboys EVP Stephen Jones acknowledged their forward-thinking approach, stating, “They’re very innovative in how they go about it. I think they’ve done an amazing job with the way they’ve brought their building along”1. Stephen Ross’s vision extends beyond football, emphasizing the importance of creating multifaceted entertainment experiences for fans.
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