Miami Dolphins Owner Stephen Ross Rejects $10 Billion Offer for Control of Franchise, Stadium, and Grand Prix

Miami Dolphins owner, Stephen Ross, has declined a lucrative $10 billion offer for control of the franchise, Hard Rock Stadium, and the Formula One Miami Grand Prix, according to a report by USA Today. Ross, who aims to maintain control of these entities within his family, engaged in discussions with billionaire Ken Griffin, but the deal could not be finalized.

The Dolphins, currently valued at $5.7 billion, hold the 11th highest valuation among NFL teams. The inclusion of the stadium and the Formula One race adds significant value to the overall package. Ross initially purchased 50% of the Dolphins franchise, along with the stadium and surrounding land, for $550 million in 2008. In the following year, he secured an additional 45% stake, making a total investment of $1 billion.

The offer made to Ross surpasses the recent sale of the Washington Commanders, which amounted to $6.05 billion in 2023. Although Ross chose not to accept the offer, its size could have a noteworthy impact on future ownership control prices.

The stadium, boasting a seating capacity of over 65,000, underwent renovations in 2015 and 2016 while also adding a training facility in 2021. In a remarkable transformation, the parking lot was transformed into a racetrack, effectively boosting the value of the stadium and generating revenue for the Florida area. These changes have also contributed to the growth of Formula One.

Ross's substantial investments, surpassing $1 billion, were aimed at hosting major sporting events such as the Super Bowl and the World Cup. The Dolphins' innovations have been hailed as one of the most successful stories in the sports business industry over the past decade. Marc Ganis, founder of SportsCorp Ltd. and a sports team consultant, praised the Dolphins' operation, describing it as "arguably the most successful, diversified, regional sports entertainment operation in the country and globally."

While Ross has rejected the $10 billion offer, the future ramifications of this decision remain to be seen. As the Dolphins continue to evolve and expand their operations, their overall value and appeal are likely to sustain an upward trajectory, ultimately shaping the landscape of ownership control in the NFL.