Billionaire hedge fund manager Ken Griffin is in discussions to buy a minority stake in the NFL’s Miami Dolphins and its home field, as well as in the F1 Miami Grand Prix, according to local radio station Fox Sports 640.
Griffin, who relocated his firm Citadel to Florida last year, in in talks with Stephen Ross, 83, who owns all three properties, the New York Post reports.
Ross bought the Dolphins from Wayne Huizenga in 2009 for $1.1 billion, seven times what Huizenga paid for the team in 1994. Forbes has valued the Dolphins at $5.7 billion and ranks it as the 11th most expensive team in the NFL.
Washington Commanders, formerly the Redskins, owners David Blitzer and Josh Harris are reportedly shopping their minority ownership in the Pittsburgh Steelers.
Dean Spanos, who retains 24% ownership in the Los Angeles Chargers, is also looking to sell his shares.
Griffin is building a $1 billion Miami waterfront complex that will become Citadel’s headquarters and is planning a mansion in Palm Beach for himself, also rumored to be in the ballpark of $1 billion.
He recently told Bloomberg he envisions Miami eventually unseating New York as the financial capital of the world.