Billionaire hedge fund manager Ken Griffin has reportedly engaged in discussions to acquire a piece of the NFL’s Miami Dolphins as well as its home field and the F1 Miami Grand Prix.
Griffin, who moved his firm Citadel from Chicago to Florida last year, is negotiating with Stephen Ross, who owns stakes all three entities, according to Bloomberg News.
Ross, the 83-year-old founder of Hudson Yards developer Related Cos., is looking to raise cash that he would invest in other sports-related ventures, Bloomberg reported.
Ross’ sports portfolio includes the Dolphins, Hard Rock Stadium, and the Miami Grand Prix, the annual Formula One race car event.
He also owns a stake in the Miami Open tennis tournament as well as the Equinox and SoulCycle chains.
News of the talks between Griffin and Ross was first reported by Miami-based sports talk radio station Fox Sports 640.
Ken Griffin, founder and CEO of multi-billion dollar hedge fund giant Citadel, is reportedly in talks to buy a minority stake in the Miami Dolphins.REUTERS
Stephen Ross, the owner of the Dolphins, is reportedly looking to unload stakes in the team as well as Hard Rock Stadium.AP
The Post has sought comment from Citadel and the Dolphins.
The real estate mogul has a net worth of $8.64 billion, according to Bloomberg Billionaires Index.
In 2009, Ross bought the Dolphins from Wayne Huizenga for $1.1 billion — nearly seven times what Huizenga paid in 1994.
Forbes has valued the Dolphins at $5.7 billion — the 11th most expensive team in the NFL.
Hard Rock Stadium, the 65,000-seat venue which hosts the Dolphins, is valued by Forbes at slightly less than $1 billion.
The Miami Dolphins are said to be worth around $5.7 billion, according to Forbes.AP
Ross is the third NFL owner who is looking to sell a minority stake in a franchise.
David Blitzer and Josh Harris, the new owners of the Washington Commanders, are shopping their minority ownership stake in the Pittsburgh Steelers.
Dean Spanos, the owner of the Los Angeles Chargers, is reportedly shopping a 24% stake in his team.
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