Billionaire Stephen Ross, chairman of Related Companies, is selling a 1 percent stake in the Miami Dolphins to Chinese billionaire Lin Bin. The deal values the team at $12.5 billion, which sets a new record for minority stake valuations in the National Football League (NFL), according to Sportico.
The NFL has approved Bin’s purchase of a $125 million stake in the holding company that owns not only the Miami Dolphins but also Hard Rock Stadium and the Miami Grand Prix. Final approval from league owners is expected at their March meeting.
Ross remains the majority owner and has stated his intention to keep control of the franchise within his family. At an event with Bloomberg in January, Ross announced that his son-in-law Daniel Sillman would eventually take over leadership of the team. “He worked for me before marrying my daughter. He is terrific and he will run it,” Ross said. “I don’t think there’s a better asset.”
This transaction continues a trend of rising sports franchise valuations. When Ross purchased the Dolphins in 2009, he paid $1 billion. In 2024, he sold a 13 percent minority interest that valued the club at $8.1 billion.
Ahead of the 2025-2026 NFL season, Forbes reported that the Dallas Cowboys were estimated as the league’s most valuable team at $13 billion, while valuing the Dolphins at $7.5 billion.
Ross has an estimated net worth of $17 billion and moved to Palm Beach during the pandemic, focusing more on development projects in West Palm Beach. Earlier this month, he expanded his holdings by securing a $172.5 million loan to acquire The Ben Hotel.
