Miami Dolphins Owner Ross Nears Selling Stakes to Ares, Tsai (2)

Miami Dolphins owner Stephen Ross is in advanced talks with private equity firm Ares Management and billionaire Joe Tsai to sell stakes in the NFL team and other assets at a valuation of $8.1 billion, according to people familiar with the transaction.

As part of the agreement, Ares will purchase a 10% stake in the properties, which also include Hard Rock Stadium and F1’s Miami Grand Prix, said the people who asked not to be named because the talks are private. Tsai, the owner of the NBA’s Brooklyn Nets and WNBA’s New York Liberty, will buy 3% through his family ...