Billionaire hedge fund supervisor Ken Griffin has reportedly engaged in discussions to accumulate a bit of the NFL’s Miami Dolphins in addition to its residence discipline and the F1 Miami Grand Prix.
Griffin, who moved his agency Citadel from Chicago to Florida final 12 months, is negotiating with Stephen Ross, who owns stakes all three entities, in response to Bloomberg Information.
Ross, the 83-year-old founding father of Hudson Yards developer Associated Cos., is seeking to increase money that he would spend money on different sports-related ventures, Bloomberg reported.
Ross’ sports activities portfolio contains the Dolphins, Arduous Rock Stadium, and the Miami Grand Prix, the annual Components One race automobile occasion.
He additionally owns a stake within the Miami Open tennis match in addition to the Equinox and SoulCycle chains.
Information of the talks between Griffin and Ross was first reported by Miami-based sports activities speak radio station Fox Sports activities 640.
The Submit has sought remark from Citadel and the Dolphins.
The true property mogul has a internet value of $8.64 billion, in response to Bloomberg Billionaires Index.
In 2009, Ross purchased the Dolphins from Wayne Huizenga for $1.1 billion — practically seven occasions what Huizenga paid in 1994.
Forbes has valued the Dolphins at $5.7 billion — the 11th costliest crew within the NFL.
Arduous Rock Stadium, the 65,000-seat venue which hosts the Dolphins, is valued by Forbes at barely lower than $1 billion.
Ross is the third NFL proprietor who’s seeking to promote a minority stake in a franchise.
David Blitzer and Josh Harris, the brand new homeowners of the Washington Commanders, are procuring their minority possession stake within the Pittsburgh Steelers.
Dean Spanos, the proprietor of the Los Angeles Chargers, is reportedly procuring a 24% stake in his crew.