Miami Dolphins owner Stephen Ross names successor

MIAMI, April 7 (UPI) -- While his on field product has averaged a 7-9 record in six years since he became majority owner, Miami Dolphins' Stephen Ross has never been afraid to pull the plug.

Now Ross, 75, could be doing it on himself, after naming New York businessman Bruce Beal Jr. his possible successor. Ross arranged for Beal to have the right of first refusal of the Dolphins if Ross dies or decides to sell the franchise.

Ross has a net worth of $12 billion, according to Forbes.

According to CBS NFL Insider Jason La Canfora, the deal was set up at last month's owners meetings. It was approved by owners at the time in Boca Raton.

In 2009, Ross completed the purchase of 95 percent of the Franchise for $1 billion. Then majority owner Wayne Huizenga retained five percent interest in the Dolphins. The Dolphins have complied a 49-63 record since Ross' purchase.

The Dolphins had winning seasons in nine of Huizenga's first 10 years as owner. The team averaged more than eght wins per season in those 15 seasons, compiling a record of 127-113.

Beal Jr. currently presides as the president and general partner for real estate and development empire Related Companies. Ross founded the company in 1972.

"Ross and Beal are very close and have worked very closely together for years and one source said this was essentially akin to "keeping the team in the family," with Beal Jr., a longtime executive at the company," La Canfora wrote.

"Sources close to Ross insist that he has no intention to sell the Dolphins, but instead deemed the move as "responsible succession planning." And those sources say that just because Beal has the first option to buy the team, it does not mean he is guaranteed to do so," Adam Beasley of the Miami Herald reported.

"This is nothing more than smart succession planning," a source told Beasley. "That way, down the road, everything is planned out."