Dolphins, Raiders both valued above $10 billion in sales of minority stakes
The deal includes part of the Dolphins, Hard Rock Stadium, the Miami Grand Prix and the Miami Open.
Never let it be said that owning an NFL team isn’t a lucrative business. NFL owners approved the sale of minority stakes of the Miami Dolphins and Las Vegas Raiders on Tuesday, with both deals valuing the franchises at well more than $10 billion. Raiders owner Mark Davis sold 7% of the franchise to Egon Durban, co-CEO of the Silver Lake investment firm, and Michael Meldman, founder and chairman of Discovery Land Co.
, at an $11. 1 billion valuation, according to CNBC . That works out to a $777 million purchase price.
Meanwhile, Miami Dolphins owner Stephen Ross sold a 1% stake in not just the team, but also Hard Rock Stadium, the Miami Grand Prix and part of the Miami Open with a $12. 5 billion valuation to Bin Lin, the co-founder of Chinese tech giant Xiaomi, t he franchise announced . That’s $125 million for 1% of an NFL team, its stadium, a Formula 1 race and even less of a tennis tournament.
For reference, the last majority stake in a team to be sold was the Washington Commanders, which were valued at $6. 05 billion in 2023. In the theoretical space, the Dallas Cowboys are valued as the most valuable franchise in American sports at $12.