Related Cos. president gets first crack at Dolphins ownership after Ross

NFL owners approve succession plan giving Related president first option to buy Miami team

TRD MIAMI /
Apr.April 08, 2016 03:45 PM

From the New York website: When it comes to his prized Miami Dolphins, Related Cos. founder Stephen Ross is keeping ownership of the NFL franchise in his corporate family — with Related president Bruce Beal Jr. receiving the right of first option to purchase the team once Ross’ time at the helm comes to an end.

NFL owners approved the succession plan at a recent meeting in Boca Raton, Fla, according to CBS Sports, as Ross[TRData] – who turns 76 in May – sought to be proactive about the Dolphins’ ownership situation to avoid any uncertainty regarding who will inherit the team in his wake.

Beal Jr.[TRData] joined Related[TRData] in 1995 and was promoted to the role of president in 2012. His father, Bruce Beal Sr., and uncle, Robert Beal, led Boston-based real estate investment firm Beal Cos. before that company’s merger with Related in 2013, which formed Related Beal.

The arrangement is akin to “keeping the [Dolphins] in the family,” sources told CBS Sports, with Ross and Beal Jr. said to be very close after working together for many years. But sources also noted that the plan does not indicate that Ross intends to sell the team imminently, and rather constitutes “responsible succession planning.”

It also does not guarantee that Beal will purchase the team, though he’ll have first crack at doing so should Ross pass away or decide to sell the team. The Related founder purchased 50 percent of the Dolphins from previous owner Wayne Huizenga for $550 million in 2008, and assumed full control of the team in 2009.

Besides football, Ross’ other sporting interests have included a $1 million investment in a new drone racing league and a mooted bid for a stake in Formula 1 racing[CBS Sports]Rey Mashayekhi


Related Articles

arrow_forward_ios
Stephen Ross and a rendering of One Flagler (Credit: Getty Images)

Related Cos. revives plans for West Palm office tower

Huizenga lobbied Rick Scott to secure Opportunity Zone designation for West Palm site

Huizenga lobbied Rick Scott to secure Opportunity Zone designation for West Palm site

Daily Digest Miami

Aston Martin condo tower adds superyacht marina amenity, Sapir wants to sell Edgewater site: Daily digest

Rendering of SLS Resort Residence & Marina Hallandale Beach, Ari Pearl, Sam Nazarian and Faisal Ashraf

Ari Pearl lands $100M loan to build first phase of SLS project in Hallandale Beach

Daily Digest Miami

Stephen Ross steps down from NFL committee post-fundraiser backlash, drama at Regalia: Daily digest

Daily Digest Miami

Ben Carson dismisses concerns about Opportunity Zones, private equity landlord pays $10M for Palm Beach Gardens properties: Daily digest

Renderings of Rosemary Square and 360 Rosemary

Artificial intelligence and investment firms sign leases at Rosemary Square

Related breaks ground on second phase of CityPlace project

Related breaks ground on second phase of CityPlace project

arrow_forward_ios