Monday, June 22, 2009
Report: Estefans buy into Dolphins
The Miami Dolphins are merging with Miami Sound Machine and Margaritaville.
Singer Gloria Estefan and her husband, producer Emilio Estefan, are buying a "very small" ownership stake in the NFL team, a person familiar with the deal said Monday. The person requested anonymity because the deal won't be announced until Thursday by owner Stephen Ross.
Seven-time Grammy winner Gloria Estefan has had hits with Miami Sound Machine and as a solo artist. Ross began a partnership in May with Jimmy Buffett's Margaritaville enterprise, which includes Land Shark Lager.
Buffett has yet to accept Ross' invitation to become a minority owner, but the Dolphins' stadium has been renamed Land Shark Stadium for this season. Buffett wrote a song for the team and will be featured at tailgate parties, Ross has said.
It's unclear whether the Estefans will have a role in Dolphins entertainment. Miami Sound Machine brought a fusion of Latin and pop to the American masses with hits such as "Conga" and "Rhythm Is Gonna Get You," and Emilio Estefan has also produced for such artists as Shakira and Ricky Martin.
The Estefans will be among the few Hispanics to hold an ownership stake in an NFL team. Gloria Estefan came to the United States at age 2 when her family fled Cuba shortly after Fidel Castro's revolution, and she has sold more than 90 million records.
Ross, a New York real estate billionaire, completed his purchase of the Dolphins in January from Wayne Huizenga.
The Dolphins confirmed only that the Estefans and Ross will make a "major announcement" Thursday on behalf of the Dolphins.