Sale Of Phins Could Be On Hold


wsvn.comAccording to speculation, and I use the word speculation because of the source, but Profootballtalk.com is saying that the sale of the Miami Dolphins to Stephen M. Ross, may be on hold.  The team is owned mutually by Wayne Huizenga and Ross but Mr. H. has the controlling interest.  45% of Wayne’s interest in the team was supposed to be sold off to Ross within days of the teams season ending.  Something that still has not transpired.

According to PFT and other sources, Ross has been trying to find the final investors to secure the remaining 500 million it would take to seal the deal (no word on how much is actually not in hand).  If this is true, and it does appear to be correct, Wayne H. may delay the sale of the team until after the 2009 season instead although that is my own speculation.  It would make sense for Wayne to hold off that final sale as it would allow him another season controlling the one enterprise he truly loves.  The Miami Dolphins.  Wayne has stated on several occasions that he truly does not want to sell the team but fears what might happen in the long run should the team be turned over to his family and he also has cited the financial loss he could take by not doing so before President Obama takes office.

Further bringing into question the validity of these “speculations” is the fact that the federal government has been petitioned by one Stephen M. Ross and his Related Co. have asked for bailout money from the Treasury Department.  According to a NY Post article, Ross is at the top of the list of some developers asking Treasury Secretary Hank Paulson for some relief.

This brings up the question of where Ross’s money is.  Can he truly afford to buy a football franchise at this time while seeking bailouts from the Feds?  While there is nothing wrong or even remotely slighting about trying to gain investors to buy the team, having his own company tied up into a situation that bares a bailout queerie could lend some credence to the rumor of the sale being put on hold.

Only a few short days after more speculation ran rampant over the Dolphins news wire concerning the eventual hiring of former Chiefs President Carl Peterson, Peterson who deflected questions about his imminent arrival quickly changed his tune a day later saying that he would not be joining the Phins.  In addition it was Wayne Huizenga who Bill Parcells turned to the day after the teams playoff exit to brief on where the owners money would be spent in free agency and prior to.  It was Wayne who gave Bill the go ahead to do whatever he wanted.  You would think that it might have been deferred in some way to Ross had the sale been a matter of a day or two away.

Ross is still the owner of the Dolphins, he has 50 % of the team but until he can line-up the remaining investors that are needed, the team will not change hands, which could keep Wayne Huizenga controlling the team for what fans would now prefer to be another year.  If Wayne does stay in control of the team, Bill Parcells does not have an out for his contract aside from retirement which is not likely as Parcells does actually like working with and not for Wayne Huizenga.

It’s funny that a little over a year ago, many fans couldn’t wait for Wayne to get rid of the team, now after what the team has done in that year, many fans don’t want him to leave at all.

Next Dolphins Game View full schedule »
Saturday, Aug 2323 Aug7:00Dallas CowboysBuy Tickets

  • Fins4ever#1

    If I am reading this article correcty, it states WH has .50 (.45 which was to be sold) and Ross has .50 percent of ownership. How does this give WH controlling interest of the team?

  • http://phinsreport.com Butler

    I believe you are reading it wrong because Ross is going to have controlling interest, because Wayne will be selling the .45 of the team to him.

    To add in: Ross will sell the .75 to other investors because you only need .2 of a team to be the majority owner.

  • http://phinphanatic.com Brian Miller

    until Wayne sells the team he is the controlling partner.

  • Built4Glory

    I never had a problem with Wayne as the owner.  I can’t ever recall $$$ ever being a stumbling block over obtaining players/coaches/etc.  He was always willing to open up his wallet. 

    I just think because he lacked football knowledge he was at the mercy of those who surrounded him.  I sort of hope he sticks it out due to this snag, and maybe has a change of heart.  I would like to see him enjoy some of the success that is in this franchises future.

    On a side note it would disgust me that a guy like Ross would put his change cup out in order to pander the government for some money so he could buy a football team.  If that is going to be the case, I would rather a few folks on the site get together, form a corporation, borrow a few billion and buy the team.  We could probably do a better job running it then Ross.  We’d at least have the intelligence not to hire Peterson in any capacity.

  • http://phinphanatic.com Brian Miller

    Built:  I don’t think he is panhandling the GOV for money for the team, but for his other company…separate entity entirely.  Still, I pointed it out as it lends some credence to him looking for investors.  Money given to him by the Feds can not be used to buy the team or invest in the team in any way shape or form.  I do agree with you about Wayne H.  I like Mr. H. and would love to see him stick it out but I don’t think his heart is truly in it anymore.  Unfortunate.

  • Built4Glory

    Thanks for the clarification about Ross’s handout.  Who knows, maybe Mr H. will have a change of heart the longer this thing drags on.  I guess we will see

  • http://phinphanatic.com Brian Miller

    Im with you Built