Stephen Ross

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Lore & Background

Ross's ownership began with a strategic acquisition from Wayne Huizenga in February 2008, securing half of the franchise and its home ground for $550 million. By January 20, 2009, he had finalized the purchase of an additional 45%, consolidating 95% control for a total cost of $1.1 billion. A pivotal moment in his tenure occurred when Florida lawmakers rejected a proposal for state funding to renovate Hard Rock Stadium; instead of accepting reduced subsidies, Ross committed to funding 70% of the costs himself, ultimately spending $500 million out-of-pocket to refresh the facility. His leadership also marked a shift in ownership diversity, bringing in high-profile minority investors like Gloria Estefan and Serena Williams. In March 2017, he made history as the only owner to vote "no" on the Raiders' relocation to Las Vegas. More recently, under new NFL rules allowing private equity investment, Ross sold a 10% stake to Ares Management in December 2024 at an $8.1 billion valuation and a 3% stake to Joe Tsai. In March 2026, he further diversified ownership by selling 1% of the holding company to Lin Bin for $125 million.

In Their Own Story

On March 27, 2017, the NFL owners gathered in a tense meeting regarding the Oakland Raiders' request to relocate to Las Vegas. While 31 owners voted "yes," Stephen Ross stood alone as the sole dissenting voice, casting the only "no" vote against the move. Years later, on February 2, 2022, his tenure faced intense scrutiny when a federal class-action lawsuit filed by former head coach Brian Flores alleged that Ross offered a $100,000 bonus for every game lost during the 2019 season. The NFL publicly denied these claims as "without merit." However, on August 2, 2022, an independent investigation led by Mary Jo White revealed separate violations of the league's anti-tampering policy involving conversations with Tom Brady and Sean Payton. Consequently, Ross was fined $1.5 million and suspended through October 17, 2022, barred from attending the Dolphins' facility or representing the team until that date. The investigation specifically noted it did not find evidence of intentionally losing games in 2019.

Reader's Guide

Fans visiting Hard Rock Stadium during a Miami Dolphins game under Ross's ownership experience a venue transformed by his $500 million out-of-pocket renovation after public funding proposals failed. Since 2019, the stadium has also hosted the Miami Open tennis tournament, expanding its role as a multi-sport destination. The facility features exclusive rights to host the Miami Grand Prix through the 2041 season, utilizing a temporary circuit layout designed to minimize disruption to local residents. On game days, the atmosphere blends South Florida's diverse culture with modern amenities, though the team has faced significant administrative challenges during this era. In December 2024, Ross began selling minority stakes to private equity firms and individuals like Alibaba co-founder Joe Tsai, altering the ownership structure while maintaining his status as principal owner. The stadium remains a central hub for major events, from NFL matchups to Formula One races, reflecting Ross's broader vision of integrating sports into the region's infrastructure.

Did You Know?

• Ross cast the only "no" vote in the NFL owners' 31–1 decision to approve the Oakland Raiders moving to Las Vegas.
• After Florida lawmakers rejected public funding for stadium renovations, Ross spent $500 million out-of-pocket to refresh Hard Rock Stadium.
• In March 2026, Ross sold a 1% stake in the Dolphins' holding company to Lin Bin for $125 million, valuing the company at $12.5 billion.
• Ross owns the Miami International Autodrome, which holds exclusive rights to host the Miami Grand Prix through the 2041 season.
• A federal lawsuit alleged Ross offered a $100,000 bonus for every game lost in 2019, but the NFL denied these claims as without merit.