Billionaire Steve Ross, chairman of Related Companies, is selling a 1 percent stake in the Miami Dolphins to Chinese billionaire Lin Bin. The transaction values the team at $12.5 billion, which sets a new record for minority stakes sold in National Football League teams, as reported by Sportico.
The NFL has approved Bin’s purchase of a $125 million stake in the holding company that owns not only the Dolphins but also Hard Rock Stadium and the Miami Grand Prix. Final approval from league owners is expected during their March meeting.
Ross remains the majority owner and has indicated his intention to keep control of the team within his family. At an event with Bloomberg in January, he stated that his son-in-law Daniel Sillman would be next to lead the franchise. “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.”
Sports franchise valuations have risen quickly in recent years. Ross purchased the Dolphins for $1 billion in 2009 and sold a 13 percent minority stake in 2024, valuing the team at $8.1 billion at that time.
Forbes estimated ahead of the 2025-2026 NFL season that the Dallas Cowboys are currently worth about $13 billion, making them the most valuable team in the league. The same analysis put the Dolphins’ value at $7.5 billion.
Ross founded Related Companies in New York and has an estimated net worth of $17 billion. He moved full-time to Palm Beach during the pandemic and has shifted some development efforts toward West Palm Beach, recently acquiring Ben Hotel with a $172.5 million loan.
