New partner to take over 50 percent of Dolphins

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."

Ross, who was a Dolphins fan before this deal, said he's looking forward to his new opportunity.

"Having grown up in South Florida, Dolphins football has been a lifetime passion for me," Ross said."I am energized by this opportunity and look forward to being able to once again watch the Dolphins win a Super Bowl alongside all the other loyal Dolphin fans."

The transaction requires the approval of the NFL.

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