Stephen Ross and the Miami Dolphins in the sale of a minority ownership stake in the Miami Dolphins, Hard Rock Stadium, and the F1 Miami Grand Prix to Ares and Joseph Tsai

On December 11, 2024, The Miami Dolphins and controlling owner Stephen M. Ross announced today a strategic investment by Ares Management and Brooklyn Nets owners Joe Tsai and Oliver Weisberg in which the investors will acquire an aggregate 13% equity interest in each of the Miami Dolphins, Hard Rock Stadium and the F1 Miami Grand Prix.

The Ares transaction is the pathbreaking, first ever sale to private-equity funds under the NFL’s recently adopted institutional investor policy, ushering in a new era of ownership in the league.

Wachtell, Lipton, Rosen & Katz is serving as legal counsel to Stephen M. Ross and the Miami Dolphins.