Steve Ross sells 1 percent of Dolphins at stunning valuation

"Ross has agreed to sell 1 percent of the Dolphins, Formula 1 Miami Grand Prix, Hard Rock Stadium and Miami Open tennis to billionaire Lin Bin based off of a valuation of $12.5 billion, according to a league source confirming an initial Sportico report. That's a record valuation for a publicly known minority transaction in sports."

"Ross, 85, who has said he intends to keep majority ownership of the franchise within the family, has sought minority sales for additional capital in recent years. In December 2024, Ross made a limited interest sale of the team and related assets to Ares Management and Brooklyn Nets owners Joe Tsai and Oliver Weisberg."

"Last January, Ross told Bloomberg he has turned down an astonishing offer of close to $15 billion for the team and assets. In the same fireside chat, he also affirmed he wants to keep the Dolphins within the family and pointed to son-in-law Daniel Sillman to run the franchise after him."

Steve Ross has agreed to sell a 1 percent stake in the Miami Dolphins, Formula 1 Miami Grand Prix, Hard Rock Stadium, and Miami Open tennis tournament to Xiaomi co-founder Lin Bin. The transaction values the combined assets at $12.5 billion, marking a record valuation for a publicly known minority sports transaction. Ross purchased the Dolphins for $1 billion in 2009. The deal requires NFL approval. Ross, 85, intends to maintain majority family ownership while pursuing minority sales for capital. In December 2024, he sold stakes to Ares Management and Brooklyn Nets owners Joe Tsai and Weisberg. Ross previously declined a $15 billion offer and designated son-in-law Daniel Sillman as his successor to run the franchise.

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