Aerial view of Hard Rock Stadium, Miami, Florida. Credit: dima/Adobe StockWachtell Helps Miami Dolphins Secure One of NFL’s First Private Equity Deals
After the NFL agreed to allow private equity firms to invest in its franchises earlier this year, the Miami Dolphins is now one of the first teams to welcome the purchase of a stake in the team. The deal was aided by a team at Wachtell, Lipton, Rosen & Katz.
December 11, 2024 at 04:03 PM
3 minute read
What You Need to Know
- Following a vote from the NFL to allow private equity firms to invest in their teams, the Miami Dolphins is one of the first teams to actually sell a stake to a PE firm.
- The South Florida franchise owner Stephen Ross is selling 10% of his stake in the team to Ares Management.
- A team of six attorneys at Wachtell, Lipton, Rosen & Katz helped close the deal.
Marking a first for the NFL, the Miami Dolphins announced that private equity firm Ares Management will purchase a stake in the team, with Wachtell, Lipton, Rosen & Katz helping close the deal.
The NFL voted in August to allow deals between private equity firms and their teams. The NFL was one of the last major American sports leagues to not allow for private equity ownership stakes. With that hurdle removed, the deal between the Dolphins and Ares Management, along with a separate investment by another NFL pre-approved PE firm Arctos in the Buffalo Bills, marks the first time any private equity entity has been allowed to invest in an NFL franchise.
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