Stephen Ross Plans to Keep Miami Grand Prix and Sports Enterprise in Family, Rejects $10 Billion Offer
Billionaire real-estate magnate Stephen Ross is making headlines once again, this time for turning down a staggering $10 billion offer to take over his sports enterprise, which includes the Miami Grand Prix, the Miami Dolphins, and Hard Rock Stadium. According to USA Today, Ross rejected the offer because he wants to keep the ventures within his family, a decision that has left many in the sports world buzzing.
“I put the Dolphins’ entire operation, not just the team, in the Top 5 in the NFL,” said Marc Ganis, founder of SportsCorp. “It’s the transformation of the entire operation to arguably the most successful, diversified, regional sports entertainment operation in the country—and by the way, let me just say—and globally in the world.”
The eye-popping $10 billion offer is significant, considering that just last year, Ross’s sports empire was valued at $6.9 billion. The Miami Grand Prix, in particular, has been a major success, with an analyst predicting it will bring $1 billion to South Florida. Formula 1 CEO Stefano Domenicali praised Ross and Dolphins CEO Tom Garfinkel for their vision and enthusiasm for the event, highlighting its importance for the sport in the United States.
While Ross may not be giving up majority control of his sports empire anytime soon, the recent offer underscores the growing value of the Miami sports scene. With the Miami Grand Prix set to captivate fans and celebrities alike this weekend, Ross’s decision to retain control of his ventures is a testament to his commitment to the success and growth of the Miami sports landscape. Stay tuned for more updates on this developing story.