Tuesday Jan. 20, 2009
MIAMI (AP) -- New York real estate billionaire Stephen Ross has become majority owner of the Miami Dolphins, with Wayne Huizenga retaining a 5 percent interest.
The two businessmen reached an agreement Tuesday to complete a deal forged last February. At that time Ross bought 50 percent of the franchise, Dolphin Stadium and surrounding land from Huizenga for $550 million, with an agreement that Ross would later become managing general partner.
A year ago, Huizenga said it was time for another person to take control of the franchise. At the time, the Dolphins were coming off a 1-15 season. Under the new Bill Parcells regime, they improved to 11-6 this season and made the playoffs for the first time since 2001.
(Copyright 2009 by The Associated Press. All Rights Reserved.)