Miami Dolphins minority stake sale to set NFL record

Stephen Ross is reportedly selling a 2.1% stake in the Miami Dolphins to Chilean billionaire Jean Eric Salata. The deal is expected to set a new NFL record for the highest price paid for a non-controlling interest in a franchise.

Salata, who chairs the Swedish investment firm EQT AB, is expected to pay a price that exceeds the previous record of $12.5 billion valuation set by Xiaomi co-founder Lin Bin. The Dolphins' valuation has risen significantly since Ross purchased the team for approximately $1 billion in 2009. The stake includes interests in the team, its affiliated businesses, the stadium, a Formula 1 race, and a tennis tournament.