Joe Tsai Nears 3% Stake in Miami Dolphins

Miami Dolphins owner Stephen Ross is in advanced negotiations to sell stakes in the team and related assets, valued at $8.1 billion, to private equity firm Ares Management and billionaire Joe Tsai. Ares is set to acquire a 10% interest, while Tsai, who also owns the Brooklyn Nets, is looking to buy a 3% stake through Blue Pool Capital. This potential deal includes Hard Rock Stadium and the Miami Grand Prix, with the NFL's new rules allowing private equity investments in teams paving the way for this transaction. The discussions follow the NFL's recent vote permitting such investments, which are subject to specific regulations. No contracts have been signed yet, and the outcome remains uncertain as the parties aim for approval in the upcoming NFL ownership meeting in December. Ross purchased the Dolphins for $1.05 billion in 2009, with the team's value now significantly increased.