This week, the Miami Dolphins will play in the first-ever NFL Black Friday game against the New York Jets, but there could be even more change on the horizon when it comes to the team’s ownership structure. 

Dolphins owner Stephen Ross is in discussions with billionaire Ken Griffin to come on as a new limited partner in the NFL team, according to a report from South Florida-based sports reporter Andy Slater. The NFL is aware of the talks, per the report. 

Additionally, Griffin would be acquiring minority stakes in Hard Rock Stadium and Formula 1’s Miami Grand Prix.

The Dolphins were valued at $5.7 billion by Forbes earlier this year. It’s unclear what size stake would be acquired by Griffin, who is the founder and CEO of investment company Citadel. Griffin, who moved his company to South Florida, carries an estimated net worth of more than $35 billion.

Ross purchased the Dolphins in 2009 for $1 billion.

A League Trend

The Dolphins are the latest NFL team to explore a minority stake sale.

A battle appears to be emerging in Pittsburgh to acquire a less-than-5% stake in the Steelers previously owned in part by Josh Harris, the new owner of the Washington Commanders.

In Las Vegas, Raiders owner Mark Davis has been trying to sell as much as 10% of the team to Tom Brady, but is facing opposition from fellow team owners for attempting to give the legendary quarterback a steep discount on the purchase price.

Alex Rodriguez and Marc Lore still haven’t formally become the new majority owners of the Minnesota Timberwolves and Lynx — but help from a $382 billion global investment firm may finally push their deal across the finish line.

Rodriguez and Lore own 40% of the teams, and current Timberwolves/Lynx majority owner Glen Taylor recently said that he expected the pair to delay the deadline to make their next payment, which would give them full control.

Now, Axios reports that A-Rod and Lore are close to a deal with the Carlyle Group to bring the U.S.-based private equity company in as a minority investor in the franchises. At the time of their deal — in May 2021 — the Timberwolves and Lynx were together valued at $1.5 billion, but Carlyle would reportedly be investing at a valuation of $2.3 billion.

Since Rodriguez and Lore agreed to purchase the franchise, the Phoenix Suns have sold for $4 billion and the Charlotte Hornets for $3 billion.

Locally, the Timberwolves are partnered with Bally Sports North for this season but will likely be finding a new broadcast partner with Diamond Sports Group’s NBA deals coming to an end in 2024.

The Timberwolves are currently in first place in the Western Conference. The Lynx made the 2023 WNBA playoffs but lost in the first round.

Dick’s Sporting Goods’ surprisingly strong third-quarter earnings countered a darkening outlook throughout the sports apparel and footwear market — and not a moment too soon.

The company reported on Tuesday that net sales rose 2.8% to $3.04 billion and adjusted earnings per share rose 10% to $2.85. Those numbers not only beat analyst projections but also meaningfully reversed an August report that missed Wall Street expectations for the first time in three years.

Dick’s also slightly raised its full-year 2023 outlook in comparable store sales and earnings. 

The results provide a new sense of hope in a third-quarter earnings season that has seen revenue declines or missed Wall Street expectations from the likes of Nike, Under Armour, Adidas, and Puma. 

“Our consumer is not trading down [to lower-quality merchandise], and our consumers have actually held up very, very well,” said Lauren Hobart, Dick’s CEO.

Dick’s stock rose nearly 7% in early trading on the New York Stock Exchange following the report. Shares in the company, however, are still recovering from a 24% plunge in August. 

The company is now looking to see if its newfound momentum carries into the critical holiday shopping season.

“We are very excited about what we have within our control for Q4,” Hobart said. “Our [store] teams are pumped to deliver an amazing holiday experience, but we’re balancing that with caution about the macroeconomic environment, because we know consumers are going through a lot right now.”