(Bloomberg) -- Billionaire Byron Trott is in talks to purchase a minority stake in the NFL’s Miami Dolphins from team owner Stephen Ross, according to people with knowledge of the matter.
The talks involve a small stake in the National Football League franchise, said the people, who asked not to be identified discussing private negotiations. Potential terms couldn’t be determined.
Trott, the chairman and co-chief executive officer of merchant bank BDT & MSD Partners, may be taking part in the discussions with another prospective investor, according to one of the people. The negotiations are preliminary and could end with Trott deciding not to invest.
Bloomberg News reported earlier this month that billionaire Ken Griffin is in talks with Ross to buy a minority stake in the team, the Hard Rock Stadium and the F1 Miami Grand Prix.
The rising sums paid by entertainment companies to broadcast live sports have boosted the value of big league franchises and attracted the interests of well-heeled investors like Griffin and Trott. On Tuesday, the family that controls Las Vegas Sands Corp. announced an agreement to purchase a majority stake in the NBA’s Dallas Mavericks at a $3.5 billion valuation.
Representatives for both Trott and Ross declined to comment.
Ross, 83, an avid sports fan, is a billionaire real estate developer. He acquired half the franchise, its stadium and surrounding land in 2008, increasing his stake to 95% a year later.
The Dolphins are currently in first place in the NFL’s AFC East division with a 8-3 win-loss record.
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