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Ken Griffin in talks to buy stake in Miami Dolphins, F1 Grand Prix

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Billionaire hedge fund manager Ken Griffin has reportedly entered into talks to acquire a stake in the NFL’s Miami Dolphins, as well as their home field and the Miami F1 Grand Prix.

Griffin, who moved his Citadel business from Chicago to Florida last year, is negotiating with Stephen Ross, owner of all three entities. according to Bloomberg News.

Ross, 83, founder of Hudson Yards developer Related Cos., is looking to raise cash that he would invest in other sports-related companies, Bloomberg reported.

Ross’ sports portfolio includes the Dolphins, Hard Rock Stadium and the Miami Grand Prix, the annual Formula One auto racing event.

It also has a stake in the Miami Open tennis tournament, as well as the Equinox and SoulCycle chains.

News of the talks between Griffin and Ross was first reported by Miami-based sports radio station Fox Sports 640.

Ken Griffin, founder and CEO of billionaire hedge fund giant Citadel, is in talks to buy a minority stake in the Miami Dolphins.
REUTERS
Dolphins owner Stephen Ross is reportedly looking to unload his bets on the team and Hard Rock Stadium.
AP

The Post has sought comment from Citadel and the Dolphins.

The real estate mogul has a net worth of $8.64 billion. according to the Bloomberg Billionaires Index.

In 2009, Ross bought the Dolphins from Wayne Huizenga for $1.1 billion, nearly seven times what Huizenga paid in 1994.

Forbes has valued the Dolphins at $5.7 billion, the 11th most expensive team in the NFL.

Hard Rock Stadium, the 65,000-seat venue that houses the Dolphins, is valued by Forbes at just under $1 billion.

The Miami Dolphins are said to be worth around $5.7 billion, according to Forbes.
AP

Ross is the third NFL owner to look to sell a minority stake in a franchise.

David Blitzer and Josh Harris, the new owners of the Washington Commanders, are purchasing their minority stake in the Pittsburgh Steelers.

Dean Spanos, owner of the Los Angeles Chargers, is reportedly purchasing a 24% stake in his team.

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