Bloomberg recently reported that Joe Tsai, the billionaire owner of the NBA’s Brooklyn Nets and co-founder of Alibaba, is nearing a deal to acquire a 3% stake in the NFL’s Miami Dolphins and Hard Rock Stadium. This move marks Tsai’s further expansion into the sports world and real estate, solidifying his growing influence across multiple sports leagues.
The deal, which is expected to be finalized soon, would involve Tsai purchasing a portion of the Dolphins franchise, which is valued at approximately $5 billion. The 3% stake will also include an interest in Hard Rock Stadium, the home venue for the Dolphins. The stadium, located in Miami Gardens, is known for hosting major events, including Super Bowls, international soccer matches, and concerts.
Tsai’s entry into the Dolphins’ ownership group is significant, as it further connects his growing sports portfolio. The Chinese-born mogul already owns the Brooklyn Nets, the WNBA’s New York Liberty, and has a considerable stake in the Premier League’s Crystal Palace. His business acumen and financial prowess have allowed him to diversify into various sectors, making his latest acquisition another notable milestone in his investment journey.
The NFL’s Miami Dolphins are led by owner Stephen Ross, and the deal will bring Tsai into the league’s exclusive ownership circle. While the exact terms of the deal have not been disclosed, Tsai’s involvement with the Dolphins is seen as a strategic move to expand his sports network, with potential long-term benefits both for him and the NFL franchise.
This acquisition underscores the continued globalization of sports ownership, as high-profile investors like Tsai seek to increase their stakes in major American sports franchises.