Ross sells 10% stake in Dolphins, Hard Rock Stadium [CBS News]
Ares Management Corporation Class A (ARES)
Last ares management corporation class a earnings: 2/13 06:00 am
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Source: CBS News
NFL owners approved the minority, non-controlling interest sale at league meetings Wednesday in Irving, Texas. Ross, 84, will remain as chairman with an 84.5% stake. Ares will acquire a 10%, while Nets owners Joe Tsai and Oliver Weisberg will hold a 3% interest, pending final closing of the agreements in a few days. Terms were not announced. In August, the NFL approved allowing private equity groups to own portions of the franchises. Ross, a South Florida native, acquired half of the Miami Dolphins and Hard Rock Stadium in 2009 from Wayne Huizenga. He purchased 45% from Huizenga in 2020 for a total investment at that time of $1 billion. He is the seventh-richest sports owner, according to Forbes. With a net worth of $17 billion, the real estate developer is chairman of Related Companies. He formed a new real estate firm in West Palm Beach this year, Related Ross. He has spearheaded and privately financed $755 million in improvements to Hard Rock Stadium in Miami Gardens
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ARES
Earnings
- 11/1/24 - Miss
ARES
Sec Filings
- 12/16/24 - Form 4
- 12/13/24 - Form 4
- 12/10/24 - Form 4
- ARES's page on the SEC website