Stephen M. Ross has sold a portion of his ownership in the Miami Dolphins and related assets to Ares Management, Joe Tsai, and Oliver Weisberg.
Stephen M. Ross has confirmed the sale of a portion of his stake in the Miami Dolphins and affiliated assets to new investors. This move sees Ares Management and Brooklyn Nets owners Joe Tsai and Oliver Weisberg joining as minority stakeholders.As part of this deal, Ares Management will acquire a 10% stake, while Joe Tsai and Oliver Weisberg will have a combined 3% interest. The assets involved include the Miami Dolphins, Hard Rock Stadium, and the Formula 1 Crypto.
In a statement, Ross is enthusiastic about the new partnership, saying:'As we continue our relentless pursuit of building a best-in-class organization, we were fortunate to attract significant interest from multiple investors, which gave us the opportunity to be highly selective in choosing partners who align with our core values and long-term vision.'I couldn't be happier to welcome Ares, Joe, and Ollie to our investment group.
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