Dolphins owner Stephen Ross could be one of the first owners to try to turn the new private equity rules into cold, hard cash.
Via the New York Times, Ross currently is talking with multiple private equity firms, along with individuals, to sell up to 15 percent of the franchise. The valuation would exceed $7 billion.
Which means (math is hard) 15 percent would cost $1.05 billion. In 2009, he finalized the purchase of the entire team and its stadium for $1 billion.
Ross previously had been in talks with Ken Griffin for a minority piece of the team. At one point, Ross reportedly declined an offer in excess of $10 billion for the team, its stadium, and the Miami F1 race.
Per the new report, the minority piece would include equity in Hard Rock Stadium and the annual F1 contest.
Ross reportedly is looking to sell as much as 15 percent of the team. The new rule would cap the private equity investment at 10 percent.
The only problem with minority interests comes from the complete lack of control that goes along with them. It’s a passive investment. A silent partnership. A vanity play — but also a pretty good investment given the ongoing growth in the value of NFL franchises.