An "unidentified investor is interested in purchasing"
the Dolphins and Pro Player Stadium from Owner Wayne
Huizenga for an amount "in excess of" the $800M that
Redskins Owner Daniel Snyder paid for his team last year,
according to NFL sources cited by ESPN.com's Chris
Mortensen. One source said the prospective investor is a
"relatively young man, around 40" who has made his money in
the Internet market. Another "well-informed" source, asked
whether the price for the Dolphins "could reach an
unprecedented" $1B, said, "Yes, when you throw in the (Pro
Player) stadium. I think he (Huizenga) is going to dump the
whole thing for the dollars we're talking." Dolphins
President Eddie Jones said that Huizenga "denied any
knowledge of such an offer." Mortensen noted that Huizenga
"announced in June that he would seek a minority investor or
investors for estate planning purposes, but that he intended
to remain as the majority owner." Morgan Stanley Dean
Witter (MSDW) is handling the minority interest sale, and
sources said it is "not an imminent transaction" but is
"expected to transpire before the end of the 2000 season."
Mortensen noted that a minority investor "is unlikely to
sink a large amount of cash into a sale without an option to
buy the team in the near future" (ESPN.com, 8/29). Jones
added, "Wayne told me he is not entertaining any offers for
minority interest in the Dolphins and that his charge to
[MSDW] remains to pursue a minority investor" (Ft.
Lauderdale SUN-SENTINEL, 8/30).
