It is being reported this morning that award winning singer Gloria Estefan is buying a small share of the ownership of the Miami Dolphins.
The current Dolphins majority owner is Stephen Ross. Ross made his fortune in real estate and completed the purchase of the Dolphins from Wayne Huizenga earlier this year for $1 billion.
Ross has ties to the Miami area. He attended Miami Beach High School and the University of Florida. He went on to earn degrees from Michigan Business School and Wayne State law school. The Michigan business school is now named after him. That’s pretty damn impressive.
Ross also he ranked 78th in 2008 on Forbes’ list of richest Americans. he had an estimated net worth of $4.5 billion.
Earlier this Spring Ross and the Dolphins partnered with Jimmy Buffett’s Margaritaville enterprise. This included naming rights for the old Dolphin Stadium, which will be renamed Land Shark Stadium after Buffet’s Land Shark Lager beer. Now they seem to be heading in a similar direction with the Estefans.
Ross has proven to be a brilliant business man. For that reason it is hard to question these recent moves. On the surface they seem odd but maybe they are what Ross needs to connect to the large hispanic and older communities that make South Florida home.
Gloria, Emilio Estefan expected to become Miami Dolphins minority owners [Miami herald]
