Steve Ross to sell 1% stake in Miami Dolphins, team hits astronomical valuation

Billionaire Related Ross chairman Steve Ross is selling a 1 percent stake in the Miami Dolphins to Chinese billionaire Lin Bin in a deal that values the team at $12.5 billion. It’s a record valuation based on publicly known minority stakes sold in the National Football League, according to Sportico, which first reported the deal.  The NFL approved the deal for Bin to buy a $125 million stake in the holding company that owns the team, Hard Rock Stadium and the Miami Grand Prix. The league’s owners are expected to grant final approval at their March meeting, according to published […]This article originally appeared on The Real Deal. Click here to read the full story.