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Stephen Ross said he\u2019s looking to sell a portion of the Miami Dolphins, after the value of National Football League teams surged in recent years.<\/p>\n
\u201cI\u2019m looking at now to monetize a portion of it,\u201d the billionaire real estate developer said at the FII Priority event in Miami Beach. \u201cI never dreamed we\u2019d be so fast at the valuations that are out there today.\u201d<\/p>\n
A Miami Dolphins stake sale could surpass the $6 billion a group led by investor Josh Harris paid for the Washington Commanders last year, Bloomberg News reported.\u00a0<\/p>\n
His comments confirm earlier reports he was looking to sell a minority stake of his sports empire, which along with the Dolphins includes the Hard Rock Stadium and the F1 Miami Grand Prix. Citadel founder Ken Griffin is in talks to purchase it, Bloomberg\u00a0reported<\/a>\u00a0in November.\u00a0<\/p>\n Ross, 83, paid $1 billion for 95% of the franchise in 2009, while also pouring $730 million into renovating the Hard Rock Stadium and surrounding areas. He has other sports ventures including a soccer commercial rights agency, which has a joint venture with LaLiga.<\/p>\n \u201cThe community wants an owner who wants to win and will spend the resources to bring that,\u201d said Ross, who\u2019s worth $8.6 billion, according to the Bloomberg Billionaires Index.<\/p>\n Ross made his comments at a two-day conference backed by Saudi Arabia\u2019s Public Investment Fund, which holds about $700 billion of sovereign money and is a key investor across the globe. Topics ranged from AI and real estate to sports, and attendees ran the gamut of investors, politicians and celebrities, including Gwyneth Paltrow.\u00a0<\/p>\n Minutes before Ross went on stage, Josh Harris said he didn\u2019t overpay for the Commanders, at the time the biggest sports transaction in history.<\/p>\n \u201cPeople will look back at the purchase of the Commanders and say \u2018wow that was bargain\u2019,\u201d said Harris, who runs 26North Partners and previously was a co-founder of Apollo Global Management<\/a> Inc.<\/p>\n A day earlier, FIFA President Gianni Infantino made a last-minute appearance at the event from Dubai to talk up the 2026 World Cup, as the world\u2019s largest sport event heads to Saudi Arabia in 2034.\u00a0<\/p>\n \u201cThis year there\u2019s a lot of sports because frankly there\u2019s a lot of money in sports,\u201d said Richard Attias, chief executive of the FII Institute, organizer of the Miami Beach event.\u00a0<\/p>\n<\/div>\nSubscribe to the CEO Daily newsletter to get the CEO perspective on the biggest headlines in business. Sign up<\/a> for free.<\/div>\n