Another day, another Miami Dolphins limited partner press conference. Well, it only seems that way.
Dolphins owner Steve Ross introduced tennis stars Venus and Serena Williams as his newest limited partners on Tuesday. He gave them Dolphins jerseys – Venus chose No. 11 for her EleVen clothing line; Serena picked No. 89 in memory of the Aug. 9 birthday of her sister, Yetunde Price, who was shot and killed in 2003.
The sisters, who live in Palm Beach Gardens, said they were thrilled at the opportunity to own a piece of the team they’ve followed for years. They plan to attend games when they aren’t away playing tennis, and participate in charity events on behalf of the Dolphins’ foundation. It’s possible Venus’ V Starr Interiors could design a lounge at the stadium and the sisters’ clothing lines might do cross-promotion with the team.
The sisters have won a combined 18 grand slam titles, including this year’s Wimbledon title, which Serena, 27, won by defeating Venus, 29, in the finals.
No financial details were disclosed – as usual – and the stakes are said to be very small. But when pressed on whether limited partners, Gloria and Emilio Estefan and Marc Anthony, are making a financial investment, Ross insisted they are.
“They’re limited partners, they’re putting up money, they are investing real dollars,” Ross said earlier in the day Tuesday in reference to the Estefans and Anthony. “They’re also enthusiastic, there’s nothing they have to do to perform or anything like that. They want to. They love it and they’re doing it much like I am, hoping we really are building something.”
Ross paid $1.1 billion for 95 percent of the team and Land Shark Stadium. He says his limited partners are investing based on what he paid for the team, but it's not clear quite how much that would be since his total purchase price includes the stadium and debt.
“They’re investing with real dollars and not discounting. Real dollars, based on what I paid for the team.”
As for other partners, Ross says to expect at least one other partner. As for others going forward, he wasn’t saying.
“ I’m not sure, right now. I have the bulk of money in it," Ross said. "I might bring in somebody for substantial sums, but I will keep at least 60 percent, two-thirds of ownership.”