Rick Ross Wants To Become Minority Owner Of Philadelphia 76ers
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From the looks of it, Rick Ross is determined to become an owner of a professional sports team in any capacity. Ross recently made it known that he is interested in purchasing a five percent stake in the NFL’s Miami Dolphins, but he also has his eyes set on the NBA’s Philadelphia 76ers.
Fanatics CEO Michael Rubin announced in a statement that he would be selling his 10% stake in the Harris Blitzer Sports & Entertainment company that owns the Philadelphia 76ers and NHL’s New Jersey Devils due to his company’s growth in the past couple of years possibly creating conflicts of interest. Rick Ross saw the post and let Rubin know he was more than interested in taking his shares.
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“I’ll buy his 10% lol,” Ross slyly commented.
While Ross is determined to take the 76ers off Rubin’s hands, it may be a financial undertaking. According to a report by ESPN, The Fanatics CEO bought his way into the owner’s group in 2011 for approximately $290M for his 10% stake. Eleven years later, it would make sense that the asset has become more lucrative and worth more than the initial $290M.
With Ross reportedly having a net worth of $45M, the rapper would have a better shot at acquiring the 10% stake with his own group of investors.
Should @MiamiDolphins sell me 5% stake in the organization? If so,what would the upside be for both sides or vice versa??
— Yung Rénzél ? (@RickRoss) June 6, 2022
