Jan. 20 (Bloomberg) -- New York real-estate developer Stephen M. Ross bought almost all remaining shares of the Miami Dolphins from team owner Wayne Huizenga and will become the team’s managing partner.
Ross, the chairman of New York-based Related Cos., will own 95 percent of the National Football League franchise and its stadium and 50 percent of its surrounding developable land, the team said in a news release. Huizenga will retain five percent of the franchise and 50 percent of the land.
Financial terms of the sale weren’t disclosed in the release. Ross bought half of the Dolphins and all attached properties from Huizenga in February 2008 for $550 million, according to the Miami Herald. Huizenga remained managing partner in that deal.
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