In a significant move poised to reshape the world of professional tennis and strengthen his already considerable influence in sports, Miami Dolphins owner Stephen Ross is nearing a major acquisition.
Sources familiar with the matter indicate that Ross is finalizing a deal to purchase a 45% stake in the Miami Open, a top-tier tennis tournament that draws hundreds of thousands of fans each year. While the deal has not yet been officially announced, its importance is far-reaching for the sport and Ross’s growing empire.
Ross Expands Sports Portfolio with Miami Open Stake
Ross, the 85-year-old billionaire developer and founder of Related Cos., is well-known for his involvement in major sports properties. In 2024, Ross sold 13% of his sports and entertainment assets in South Florida.
These holdings include the Dolphins, the Formula 1 Miami Grand Prix, and Hard Rock Stadium. The stake was sold to Ares Management, as well as Brooklyn Nets owners Joe Tsai and Oliver Weisberg.
Even though he previously had a profit-sharing arrangement with Endeavor for the Miami Open’s day-to-day operations, Ross never held direct ownership in the tournament itself until now.
EXCLUSIVE: Miami Dolphins owner Stephen Ross is nearing a purchase of 45% of the Miami Open.
It was previously reported that Ari Emanuel and Redbird Capital were negotiating to buy the majority. @GillianTan has the scoop ⬇️
— Front Office Sports (@FOS) June 29, 2025
This opportunity to buy into the Miami Open arose as Silver Lake continues to sell off key sports assets from its WME Group, formerly known as Endeavor.
A group led by Ari Emanuel, former CEO of Endeavor, along with RedBird Capital Partners and Apollo Global Management, has been in discussions to acquire both the Miami Open and the Madrid Open.
Both tournaments are recognized as ATP 1000 and WTA 1000 events, placing them just below Grand Slams in terms of prestige, ranking points, and prize money.
Miami Open Thrives Under Ross’s Watch
The Miami Open has been held at Hard Rock Stadium since 2019, a venue already under Ross’s control. The 2025 edition of the tournament set new attendance records, drawing more than 405,000 fans. Ticket sales, sponsorships, and hospitality revenue also reached all-time highs, showing the event’s growing commercial strength.
With this new acquisition, Ross not only strengthens his hold over one of tennis’s most valuable venues, but also increases his stake in the content it hosts.
This potential shift in ownership mirrors a broader trend of high-profile deals involving Emanuel, who has frequently acquired divested assets from Endeavor since its privatization by Silver Lake in March. In recent months, he agreed to buy the Frieze Art Group for a reported $200 million. He also led a management buyout of OpenBet and IMG Arena worth $450 million.
For Ross, this move fits into his larger global expansion strategy. Through Relevent Sports, which he co-owns, Ross secured global commercial rights for UEFA men’s club competitions, including the UEFA Champions League, earlier this year. A stake in the Miami Open complements this vision, adding one of the tennis tour’s most important events to his expanding sports empire.
