SALE OF TEAM IS FINAL TO REAL ESTATE DEVELOPER STEVEN ROSS
Steven Ross, a New York real estate billionaire, completed his purchase of 95 percent of the franchise for $1 billion Tuesday, with Wayne Huizenga retaining a 5 percent interest. Ross then addressed the subject of Parcells' status. The sale triggered a clause in Parcells' contract allowing him to leave and still receive the $9-12 million remaining on the four-year contract he signed a year ago.
"Parcells is in charge," Ross said in a conference call. "He's staying, and I think we're very fortunate to have someone like Bill Parcells, who I think people have come to recognize as probably the best football mind in America."
Thanks to Parcells, Ross takes over with the franchise's fortunes on the upswing. When the first phase of his purchase was completed last February, the Dolphins were coming off a 1-15 season, worst in team history. Under the new Parcells regime, they improved to 11-6 this season and made the playoffs for the first time since 2001.
Talk about the sale and the team''s future in the FINHEAVEN FORUMS!