MIAMI — New York builder Stephen Ross agreed to buy half the Miami Dolphins from owner Wayne Huizenga, with an opportunity to become managing general partner.

Ross would acquire 50 percent of the franchise, Dolphin Stadium and surrounding developable land, the team said today. The NFL must approve the sale.

Huizenga would remain managing general partner for now. Ross is chairman of Related Companies, an international real estate development company.

"I have always said that I wanted to bring in a partner, and I can't think of anyone more appropriate than Steve," Huizenga said in a statement. "He has unbridled enthusiasm and I couldn't feel better about the future than I do with Steve as my partner and Bill Parcells running football operations."

Ross and Huizenga were to hold a news conference later in the day.

Ross has been involved with sports before — a minority partner with the NHL's New York Islanders. In 1990, he was part of a group interested in bringing baseball to Miami.

"Having grown up in South Florida, Dolphins football has been a lifetime passion for me," Ross said. "I am energized by this opportunity and look forward to being able to once again watch the Dolphins win a Super Bowl alongside all the other loyal Dolphin fans."