Miami Dolphins owner Stephen Ross is engaged in "advanced talks" to sell a stake in the franchise to a private equity firm, according to Bloomberg's Randall Williams.
Under the proposed deal, Ares Management would purchase a 10 percent stake in a group assets that includes the Dolphins, Hard Rock Stadium and Formula One's Miami Grand Prix. The assets altogether would be valued at $8.1 billion.
Sportico's Eben Novy-Williams reported Joe Tsai, who owns the NBA's Brooklyn Nets and WNBA's New York Liberty, would purchase an additional three percent stake.
Should the transaction go through, it will be the first time a private equity firm took advantage of the NFL's new ownership rules.