Miami Dolphins
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The Dolphins sold 1% of the team's ownership
The Miami Dolphins are fresh off a disappointing season, as they finished the 2025 season with their worst record since 2019 and missed the postseason for a second consecutive season. After a poor decade in the 2010s for Miami, things seemed to be improving in the 2020s as they had a record above .500 in three consecutive seasons. However, what once seemed like a bright future hasturned into another rebuilding phase.
Since Stephen Ross became the majority owner of the franchise in 2009, the Dolphins have been unable to break their playoff win drought that dates back to the 2000 season. With Ross as the owner, the Dolphins have not won a division title or a playoff game, despite Ross spending large amounts on free agents.
Despite this, the Dolphins remain one of the premier NFL franchises. That is not only due to their rich history and large market, but also as a result of improvements made to Hard Rock Stadium and the events the area attracts. For that reason, a major move has just been made on the Dolphins ownership.
Dolphins Ownership Sale
Ben Fischer of The Sports Business Journal reported that “Chinese-American billionaire tech entrepreneur Lin Bin has a deal in place to acquire 1% of the Miami Dolphins and its affiliated businesses at a valuation of $12.5B, sources familiar with the deal said.” The deal has not beenofficially finalized according to Miami Herald writer Barry Jackson, but he confirmed that they had reached an agreement.
Fischer added that, “The valuation for the enterprise is a new high-water mark for deals including stakes in NFL teams.”
Locked On Dolphins host Kyle Crabbs noted, “The deal is pending approval from NFL owners. With the league’s annual spring owner’s meetings right around the corner, it would seem as though the I’s will be dotted and the T’s crossed on this business dealing sooner rather than later. And once it is, the focus will come back to the Dolphins’ on-field product to make sure the valuation of the franchise continues to soar. The way they do that? Winning, of course.”
Miami Dolphins Offseason
The franchise’s value has continued to soar despite the Dolphins’ lack of wins. However, as Crabbs mentioned, a winning team would only increase the value of the franchise.
Unfortunately, the Dolphins building a sustained winning team seems far away at the moment. The team has limited salary cap space flexibility as a direct result of large contracts handed out in prior seasons. Additionally, the team is expected to release quarterback Tua Tagovailoa, which will result in the team having the largest dead money hit in NFL history.
With limited resources, Miami’s new front office will try and field a competitive team in 2026, but they will first have to find a quarterback to replace Tagovailoa. The team has several options, and although each of those options has a downside or carries substantial risk, getting that decision right could be the move that increases Miami’s value and turns them from an attractive destination to an attractive football team that wins football games.