Stephen Ross sells minority Dolphins stake at NFL-record valuation

Miami Dolphins principal owner Stephen Ross agreed to sell a 2.1% minority stake in the team and affiliated assets to Chilean billionaire financier Jean Eric Salata. The deal covers portions of Hard Rock Stadium, the F1 Miami Grand Prix, and the Miami Open. The transaction reportedly values the franchise and its properties slightly above an NFL-record $12.5 billion.

The NFL's finance committee approved the agreement last month, with league owners expected to provide formal approval next week in New York. The sale continues a sequence of minority divestitures by Ross, who previously sold a 1% stake to Lin Bin at a $12.5 billion valuation in March and stakes to Ares Management, Joe Tsai, and Oliver Weisberg in December 2024.