Streeter Lecka
Earlier today, the South Business Journal tweeted that the Related Companies, a development company owned by Stephen Ross, was bidding for AEG Facilities, the group that is managing the proposed football stadium in Los Angeles. Of course, that immediately spun speculation that Ross, who also owns the Miami Dolphins, was preparing to move his NFL franchise across the country if public funding was not approved for Sun Life Stadium.
Miami Dolphins owner Stephen Ross recently announced a series of renovations to be made to Sun Life Stadium, the home of the Dolphins, the Miami Hurricanes, the Orange Bowl, and host site for multiple Super Bowls, National Championship games, and other marquee sporting events. When the South Business Journal tweeted out today that Ross' Related Companies, and his RSE Ventures company, was bidding to purchase AEG Facilities, the company that manages the proposed stadium in Los Angeles designed to return the NFL to the city, speculation mounted that Ross was preparing to move the Dolphins to LA if the proposed public funding were not approved for the renovations to Sun Life Stadium
However, in reality, the move to purchase AEG Facilities has nothing to do with the Dolphins and the stadium upgrades. As the Sun-Seninel's David Hyde points out, to assume that Ross would purchase all of AEG simply for the rights to an LA stadium is a giant leap. After all, AEG also owns BBVA Compass Stadium in Houston, Nova Arena in Sao Paulo, Barzil, O.co Coliseum in Oakland, The Home Depot Center in Carson, California, Turk Telekom Arena in Istanbul, Turkey, American Airlines Arena, in MIami, AT&T Center, in San Antonio, Barclays Center in Brooklyn, and Staples Center in Los Angeles, along with many, many other arenas, stadiums, clubs, and convention centers.
The move to buy AEG is a businessman looking to increase his holdings within the sports world. The Related Companies have been acquiring sports entertainment companies before now. Adding AEG would only be the next step in that movement.
According to another Hyde article, Ross himself sent out an email about the move to acquire AEG and what it could mean for the Dolphins. "I have no interest at all in moving the Dolphins,'' Ross wrote. He added that the bid's purpose was "strictly advancing our real estate, sports, entertainment and technology business."
Don't read to much into the RSE Ventures move to acquire AEG Facilities. In the end, it really has nothing to do with the Dolphins.
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