Ares prepares NFL splash
Ares Management is hoping to make a big splash in the NFL with news that the global private equity firm is reportedly looking to acquire a 10% minority stake in the Miami Dolphins. The deal also includes billionaire Joe Tsai, co-owner of the NBA’s Brooklyn Nets and the WNBA’s New York Liberty, who would receive a 3% ownership stake. This could be a huge catch as the deal also includes the Hard Rock Stadium and the Miami F1 Grand Prix race. This development follows recent news that the NFL had agreed to allow outside investors to take ownership stakes in what is one of the world’s most highly lucrative sports leagues. More NFL teams will doubtless be looking for their own liquidity events in the coming months, as private equity firms go on the offense and make a bid for their end zone celebration.