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 is reportedly a record for publicly known minority stakes sold in the National Football League, according to Sportico.
The NFL has approved Bin’s purchase of a $125 million stake in the holding company that owns the Dolphins, 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 team within his family. At an event with Bloomberg in January, he announced that his son-in-law Daniel Sillman would be next in line to lead 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.”
Sports team valuations have risen rapidly in recent years. Ross purchased the Dolphins for $1 billion in 2009 and sold a 13 percent minority stake in 2024 that valued the franchise at $8.1 billion.
Forbes estimated ahead of the 2025-2026 NFL season that the Dallas Cowboys are currently valued at $13 billion, making them the most valuable team in the league. The same analysis put the Dolphins’ value at $7.5 billion.
Ross has an estimated net worth of $17 billion and relocated to Palm Beach during the pandemic, focusing development efforts on West Palm Beach. Earlier this month, he expanded his portfolio by securing a $172.5 million loan to acquire the Ben Hotel.
