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Stephen Ross sells sliver of Dolphins at record valuation

Miami Dolphins owner Stephen Ross has set a new benchmark in NFL franchise valuations by selling a 2.1% stake in the team and its affiliated businesses to Chilean billionaire Jean Eric Salata. The deal, valued slightly above $12.5 billion, surpasses previous minority share sales, including an earlier $12.5 billion valuation for a 1% stake sold to Lin Bin earlier this year.

Beyond the Dolphins, Salata’s purchase includes Hard Rock Stadium, the F1 Hard Rock Miami Grand Prix, and the Miami Open tennis tournament, expanding the scope of his investment. The transaction underscores the soaring financial interest in NFL equity, where controlling stakes have reached as high as $9.612 billion—yet minority shares now command even greater sums, reflecting the allure of ownership in one of the league’s most lucrative franchises.

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