Can you say no to $10 billion for anything? Well, one Miami sports titan did.
Stephen Ross, owner of the Miami Dolphins, reportedly entertained but ultimately rejected an offer of $10 billion for ownership of the NFL franchise, as well as the team’s home arena, Hard Rock Stadium, and the Formula 1 Miami Grand Prix, according to a report by USA TODAY Sports.
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According to the report, the 83-year-old Ross, who’s known for his real estate development company The Related Companies, rejected the $10 billion offer because he wants to keep his assets within the family.
While selling off the assets for $10 billion might seem like a proposal that’s too hard to refuse, the growth of sports valuations in recent years makes it feasible that the value of the assets only continues to grow.
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The Dolphins alone were valued at $5.7 billion by Forbes in 2023, 11th highest among the 32 NFL franchises, and was up 24% versus the previous year. That was the second-highest percentage value increase of all NFL franchises last year, but collectively, the league still saw 14% growth among its teams.
The value of a single F1 race is unclear, though the 2023 Miami GP brought in $350 million in economic impact for the city of Miami over just one weekend, according to a report by Applied Analysis.
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