The Real Deal Miami

Developer buys half of Dolphins

February 22, 2008 06:26PM

Developer Stephen Ross, chairman of New York-based Related Companies,
is purchasing a half-stake in the Miami Dolphins from owner Wayne
Huizenga for $550 million. Pending the NFL approval of the transaction,
Ross will acquire half ownership of the team, Dolphin Stadium and some
surrounding land. Huizenga recently announced plans to invest around
$250 million in stadium renovations, expected to be completed by 2009.