Dolphins Sale: 15 Years After Venus & Serena Williams’ Arrival, Stephen Ross Looks to Sell Minority Stake in the NFL Franchise
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Stephen Ross is looking to book his massive profit! The esteemed real estate developer is the majority stakeholder in the Miami Dolphins. And after 2009, the 83-year-old is ready to bring in another minority shareholder.
In 2009, after Ross consolidated 95% of ownership with the Dolphins. The talented tennis duo of Venus & Serena Williams joined the majority stake in the franchise. Now, 15 years later, Ross is looking to offload once again!
Stephen Ross gives out another minority stake
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In 2009, Ross gained majority control of the Dolphins by parting away with $1.1 billion. Now the entire franchise is estimated to be worth more than $6 billion. The real estate mogul is reported to be looking for new partners in this venture once again.
Dolphins owner Stephen Ross mentioned at a conference last week he is looking to sell a minority stake in the team.
Ross bought the team (+ surrounding real estate) for $1 billion in 2009, and it’s now valued at over $6 billion.
Serena & Venus Williams are also minority owners. pic.twitter.com/uvNtzeDjCJ
— Joe Pompliano (@JoePompliano) February 27, 2024
In 2009, the Williams sisters were brought on as ambassadors for the Miami-based franchise. Both sisters own 0.5% of the franchise each.“We are thrilled to have Venus and Serena join the Dolphins as limited partners”, said Ross in 2009.
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“Having spent so much of my childhood in the area, being involved with a staple of Miami culture is a huge honor” said Serena in 2009. Their partnership has been fruitful, to say the least. With the valuation being 6 times in 15 years. However, this success hasn’t been replicated in the field.
The Dolphins’ justifiable valuation on the pitch
Apart from the money that Ross paid upfront to acquire the Dolphins. The billionaire also invested another $730 million to renovate the Hard Rock Stadium and surrounding areas. However, since being acquired, the Dolphins haven’t been the winning machine.
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In the last 15 seasons, the Dolphins haven’t been able to win their AFC East division even once. While only qualifying for the playoffs on 3 occasions. Each time getting crashed out in the wildcard round, including the last season.
The lack of stability is also present in the coaching department as well. Since the Dolphins have had 7 different head coaches in this timeframe. Do you think Stephen Ross is justified in getting a $6 billion evaluation for the Dolphins? Let us know in the comments.
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Written by:
Edited by:
Garima Yadav
