Owning an NFL franchise is an impressive accomplishment. There are only 32 teams in the league, so it’s not like the chance comes along all too often. Buying a team also means you have a ton of money. Billionaire hedge fund manager and entrepreneur Ken Griffin certainly fits the bill, with a net worth north of $35 billion.
After failing to buy a stake in Chelsea FC last year and spending ample time investing in houses — including buying back property from Alex Rodriguez earlier in 2023 — Griffin is once again trying to get into the sports world. This time, he’s in talks with Miami Dolphins owner Stephen Ross to buy a minority stake in the team.
No deal has been finalized, but talk show host Andy Slater first reported that the conversation includes not only the Dolphins but also Hard Rock Stadium and F1 Miami.
Just how much could a sale be worth?
Ken Griffin (PATRICK T. FALLON/AFP via Getty Images)
Ross bought his majority stake in the Dolphins in 2009, spending $1 billion. He’s also put about $730 million into renovating Hard Rock Stadium, where both the Dolphins and the Miami Hurricanes play their home games. The stadium has hosted the Orange Bowl, F1 events, and tennis tournaments and will be the home for some 2026 FIFA World Cup soccer matches.
When Dan Snyder sold the Washington Commanders to an investor group led by Josh Snyder earlier this year, the deal was valued at over $6 billion. This deal could be worth potentially even more than that, which would be a record for an NFL franchise.
Griffin founded Citadel, a hedge fund that currently manages about $65 billion worth of assets. He moved both his company and his family to Miami last year.
Ross has made his money in real estate, primarily investing in buildings in Miami and New York. He’s also a holder in Relevent Sports Group, which has a joint partnership with LaLiga. The 83-year-old Ross could use money from the Dolphins deal to invest in another sporting venture.
The Dolphins are one of the top teams in the NFL and currently lead the AFC East. If ever there were a time to sell high, it’s now. And Ross looks like he’s planning to cash in.