Miami Dolphins owner Wayne Huizenga announced on Friday that Stephen Ross, who is the Chairman of the Related Companies, an international real estate development company, has become a 50 percent partner in the franchise, the stadium and the surrounding developable land.
Huizenga will remain the Managing General Partner of the franchise, while Ross will be an active partner and has the opportunity to become the Managing General Partner in the future.
"I have always said that I wanted to bring in a partner, and I can't think of anyone more appropriate than Steve," Huizenga said. "He has unbridled enthusiasm and I couldn't feel better about the future than I do with Steve as my partner and Bill Parcells running football operations."
The transaction requires the approval of the NFL.