Miami Dolphins owner Stephen Ross is in advanced discussions with Ares Management (ARES) and billionaire Joe Tsai, the co-founder of Alibaba (BABA), to sell stakes in the National Football League team and other assets at a valuation of $8.1B, Bloomberg’s Randall Williams reports, citing people familiar with the transaction. As part of the deal, the private equity firm will acquire a 10% interest in the properties, which also include Hard Rock Stadium and F1’s Miami Grand Prix, the author says. Meanwhile, Tsai, who owns the NBA’s Brooklyn Nets and WNBA’s New York Liberty, would acquire 3% of the Dolphins, the author notes.
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