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Never let it be said that owning an NFL team isn’t a lucrative business.
NFL owners approved the sale of minority stakes of the Miami Dolphins and Las Vegas Raiders on Tuesday, with both deals valuing the franchises at well more than $10 billion.
Raiders owner Mark Davis sold 7% of the franchise to Egon Durban, co-CEO of the Silver Lake investment firm, and Michael Meldman, founder and chairman of Discovery Land Co., at an $11.1 billion valuation, according to CNBC. That works out to a $777 million purchase price.
Meanwhile, Miami Dolphins owner Stephen Ross sold a 1% stake in not just the team, but also Hard Rock Stadium, the Miami Grand Prix and part of the Miami Open with a $12.5 billion valuation to Bin Lin, the co-founder of Chinese tech giant Xiaomi, the franchise announced.
That’s $125 million for 1% of an NFL team, its stadium, a Formula 1 race and even less of a tennis tournament.
For reference, the last majority stake in a team to be sold was the Washington Commanders, which were valued at $6.05 billion in 2023. In the theoretical space, the Dallas Cowboys are valued as the most valuable franchise in American sports at $12.8 billion.
Continue reading...
NFL owners approved the sale of minority stakes of the Miami Dolphins and Las Vegas Raiders on Tuesday, with both deals valuing the franchises at well more than $10 billion.
Raiders owner Mark Davis sold 7% of the franchise to Egon Durban, co-CEO of the Silver Lake investment firm, and Michael Meldman, founder and chairman of Discovery Land Co., at an $11.1 billion valuation, according to CNBC. That works out to a $777 million purchase price.
Meanwhile, Miami Dolphins owner Stephen Ross sold a 1% stake in not just the team, but also Hard Rock Stadium, the Miami Grand Prix and part of the Miami Open with a $12.5 billion valuation to Bin Lin, the co-founder of Chinese tech giant Xiaomi, the franchise announced.
That’s $125 million for 1% of an NFL team, its stadium, a Formula 1 race and even less of a tennis tournament.
For reference, the last majority stake in a team to be sold was the Washington Commanders, which were valued at $6.05 billion in 2023. In the theoretical space, the Dallas Cowboys are valued as the most valuable franchise in American sports at $12.8 billion.
Continue reading...
