The Miami Dolphins are in advanced talks to sell a minority stake to Ares Management and billionaire Joe Tsai. The move valued the assets, including Hard Rock Stadium and the Miami Grand Prix, over $8 billion. The deal was spurred by the NFL's recent rule change allowing private equity investment. Ares is expected to buy 10% of the team, while Tsai is negotiating for 3%.
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00:00It's Benzinga, and here's what's on the block.
00:02The Miami Dolphins are in advanced talks to sell a minority stake to Ares management and
00:07billionaire Joe Tsai.
00:09The move valued the assets, including Hard Rock Stadium and the Miami Grand Prix, over
00:13$8 billion.
00:14The deal was spurred by the NFL's recent rule change allowing private equity investment.
00:19Ares is expected to buy 10 percent of the team, while Tsai is negotiating for 3 percent.
00:24For all things money, visit Benzinga.com.