Dolphins owner Wayne Huizenga has told several sources -- both inside and outside of the organization -- he is considering selling the team and the stadium because of his continued frustrations with Miami's current winless state.
His asking price would be between $1.1 billion and $1.2 billion, a high-end source has told The Miami Herald.
Huizenga declined to comment through the Dolphins media relations department and on Friday was not made available to speak with reporters as he left the team's Davie practice facility. Four sources have confirmed Huizenga's state of mind to The Herald
Huizenga has spoken to several confidants outside of the organization, voicing those same frustrations while even naming potential suitors who would be willing to enter into negotiations.
Sources within the organization are also aware of Huizenga's growing discontent and potential desire to sell the team. Huizenga has in the past said the Dolphins are not for sale, but always added the caveat that he would consider any serious offer.
A source with the Florida Panthers told The Herald this week that, at one point last year Huizenga spoke with advertising executive (and Panthers minority owner) Jordan Zimmerman about potential interest. Those talks were very preliminary, and they did not materialize into anything nearly as serious as Huizenga's current considerations.
Zimmerman told The Herald this week he is not interested in buying the team at this point.
The Dolphins are currently the only NFL team without a victory. The team has three more opportunities to win a game and avoid becoming the first NFL team ever to lose every game in a 16-game season.
Forbes Magazine this year valued the Dolphins at $942 million, with a revenue stream of approximately $215 million. The valuation makes the Dolphins the 15th-priciest NFL franchise. The Dallas Cowboys, by comparison, were the highest valued at $1.5 billion. The Minnesota Vikings were the lowest at $782 million.
The Dolphins organization and Dolphin Stadium would be offered as a package deal assuming a sale happens. Huizenga purchased the team from the Robbie family in 1994 for $138 million.
It is interesting that Huizenga has made comments about selling despite his recent commitment to spend approximately $250 million to upgrade Dolphin Stadium, with the final phase of that upgrade to be completed by 2009.
When Huizenga initially agreed to purchase the team, he needed to wait more than three years before officially becoming the team's owner because of the league's cross-ownership policy, which was altered in 1997 to allow controlling interest in other sports.
Since, however, his investment has gained $804 million in worth.
When he purchased the NFL team, he also owned the Marlins and the Panthers, which he brought to South Florida. He has since sold his interests in both the baseball and hockey organizations.
http://www.miamiherald.com/598/story/345175.html
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If true, this is a phase. It will pass as the team rebuilds.
I think this also provides some supporting evidence to the idea that Huizenga absolutely would not sign off on rebuilding the team in years past. -
I say we raise up the prices for FinHeaven VIP by 10,000%, and in 3 years, we can re-name the stadium FinHeaven Stadium [fourth name change in 10 years?].
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The NFL would not allow that. Not this franchise. Even in the midst of the worst few years in team history, the Dolphins are still the NFL's 13th most popular franchise.
Jacksonville and Minnesota stand to lose their franchises, not Miami. The Jags have to pull tarp over 10,000 seats just to sell out ticket allotments, and Zigi Wylf seems to be be doing everything he can to bail on the Twin Cities. -
Good. I hope he does sell it...to someone with some knowledge of the NFL and who to hire to run the operation.
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If Huizenga is looking to sell the team this offseason, don't expect a coaching change. This news just ended any speculation onto whether Cameron would get fired. If this news is true, Cameron is coming back in 2008. Huizenga has no reason to fire him, eat some of that contract and then hand out another big contract to another coach. Won't happen. Looks like Cameron just saved his job.
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That wont happen, Miami is by no means a small market.
I'm all for a new owner, as Ahnold said to the Predator "Do it!" Do it Now!" -
I had hoped that it meant just the opposite, but I guess you are right
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And it could be that Wayne is letting his displeasure with this team be known to the public..
LA is just not a NFL town, they just don't support NFL franchises. -
this doesn't really say anything. The article says the dolphins are worth 940million, waynes asking for 1.2 billion.
Yea, i'd consider selling the team too if someone offered me 50million more than it was worth. -
I would love to see a group of Marino and Curtis Martin buy the team.
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Arison would tighten the purse strings. (Look at his dogged refusal to go over the luxury tax threshold when it's obvious the Heat need help.)
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Looks like this could be the next owner of the Miami Dolphins:
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I sure can. :lol:
But I hope the next owner is loaded with cash and not like Jeffery Loria of the Marlins. -
i'll bet huizenga would take less for the franchise if marino was involved.
plus marino would be invulnerable to league wishes and/or enticements to move.
you know what would make this bulletproof for miami? if marino and emilio/gloria estefan were part of the group.Last edited: Dec 14, 2007 -
man, you hit the nail right on the head.
look at how, even after winning a world series, the team couldn't even find ONE local suitor willing and able to take on the franchise.
it wouldn't be that hard to find a cash-rich person or group in la to fund a purchase, and even build a brand-new stadium. -
Jorge Perez.
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It's everywhere now.......
http://www.palmbeachpost.com/news/c...dolphinssale.html?cxtype=rss&cxsvc=7&cxcat=46
http://www.sportsline.com/nfl/story/10530028Last edited: Dec 14, 2007 -
Your right, but Stephen Ross(who is worth MORE then Huizenga) teamed with Perez have more then enough money to buy them. No smoke screen at all. This sounds like the real deal.
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Mr Ross is ranked No 68 in Forbes richest people list.
http://www.forbes.com/lists/2007/54/...Ross_YZL6.html
Wayne H is ranked No 165 on that list.
http://www.forbes.com/lists/2007/54/...enga_E353.html
And since both investors have South Florida roots its unlikely they would move the team to another city. -
Crazy Hank Goldberg was just on ESPNEWS talking about this. He said his sources tell him that Wayne is very upset with the way things have gone and will either sell the team or clean house (his words). He also said there are other prospective buyers Wayne is talking to.
Make of that what you will. -
No, it's not. That's extremely counterproductive and unnecessarily complex. If the point is to evacuate a franchise in Jacksonville and ensure that a franchise stays in Miami while Los Angeles gains a team, just move the Jaguars to LA. Problem solved.
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Joe Robbie staduim makes moving the Dolphins almost impossible.
IMO, Wayne is just venting,,,,,,,,,, -
But I think it wouldn't all happen at once. The Dolphins would move and several years later the Jags would move. New Orleans could also be a franchise that could fill the void in Miami.
Certainly if the Dolphins vacated South Fla, it wouldn't be very long before a team found its way here. This is a strong NFL market, as TV ratings prove. -
No he wouldn't. He doesn't want to go over the luxury tax because he was the one who came up with the luxury tax! He wants to set an example as well as not pay the other owners lol. Football has stricter cap rules anyway, this wouldn't be an issue. It is not like there is a Knicks of the NFL or Yankees that just spend 4 times what other teams spend.
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Funny Story: Someone has to come up with 1.1 billion dollars to buy the team and the stadium. I don't know to many billionares able to toss that kind of money on entertainment. Wayne better face the fact he is stuck with the team. The return on initial investment is not very good.
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