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Imagine being in a position to turn down $10 billion.
Miami Dolphins owner Stephen Ross reportedly did just that. An unnamed buyer offered Ross $10 billion for controlling interest in the Dolphins, Hard Rock Stadium and Miami's Formula One race, and he said no thanks. The offer was reported by USA Today and confirmed by the Miami Herald.
While it's hard to determine just from that report how much the NFL team itself would be worth in the sale, the record for a franchise sale is $6.05 billion. That's what the Washington Commanders went for in 2023. This sale would have blown that away.
It shows that we still haven't hit the ceiling on professional sports team valuations, and that F1 is American sports' new cash cow.
Stephen Ross doesn't sell Dolphins
USA Today reported that Ross wants to keep the assets in the family, so he declined the offer. While that's hard to put a monetary value on, Ross is also a successful businessman, and if he thought $10 billion was a ridiculous offer, maybe there would have been a sale.
But $10 billion might not have been enough for the team, stadium and race.
F1 has been booming. Las Vegas practically shut down the city for weeks and put the locals out with traffic issues to host a race last year, and the race had an estimated economic impact of $1.5 billion, according to the Las Vegas Review-Journal.
The area inside and outside of Hard Rock Stadium has been built up to host the Miami Grand Prix, which is in its third year, on Sunday.
F1 was a big part of that massive offer to Ross, but the NFL aspect is still growing, too.
NFL team values increase
The sale of the Commanders skipped the $5 billion threshold for NFL teams. The record before the Commanders sale was $4.65 billion for the Denver Broncos in 2022. Then it jumped to more than $6 billion.
Considering the real estate in South Florida in which the stadium is on, the race component and the rising value of all sports franchises, it's not that outrageous for Ross to turn down an 11-figure deal. USA Today said Ross has already invested $1 billion into an overhaul of the stadium and to turn the Hard Rock Stadium parking lot into a race track.
Daniel Weinman was crowned winner of the 2023 World Series of Poker (WSOP) Main Event on Monday, taking home a record breaking $12.1 million in winnings. Weinman had to outlast the other 10,043 entrants to take home the prize and get his hands on his share of live poker’s largest ever prize pool – a staggering $93,399,900. As well as taking home the prize money, 35-year-old Weinman also got his hands on the WSOP Main Event bracelet. The huge bracelet contains 500 grams of 10-karat yellow gold, as well as 2,352 various precious gemstones.
Daniel Weinman won the World Series of Poker's main event world championship on Monday in Las Vegas, earning $12.1 million along the way. Playing in the tournament for a 16th year, Weinman was tops in a deep pool of 10,043 players vying for $93.39 million. His victory came after just 164 hands at the final table. "I was honestly on the fence about even coming back and playing this tournament," the 35-year-old Atlanta native told reporters afterward. Weinman's final table featured Jan-Peter Jachtmann, who landed in fourth place and took home $3 million, as well as Toby Lewis, who finished seventh and secured $1.42 million. According to the Las Vegas Review-Journal, the main event's entry pool far outpaced the previous record of 8,773 set in 2006. "I've always kind of felt that poker was kind of going in a dying direction, but to see the numbers at the World Series this year has been incredible," Weinman said. "And to win this main event, it doesn't feel real. I mean, [there's] so much luck in a poker tournament. I thought I played very well." Steven Jones finished second, securing $6.5 million. And Adam Walton settled for third and a $4 million prize.
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