Miami Dolphins President and CEO Tom Garfinkel announced Tuesday he will step down from his executive role after 13 years with the franchise. He will continue to serve as vice chairman of the Dolphins and Hard Rock Stadium, and will remain managing partner of the Miami Grand Prix.
Garfinkel, who joined the Dolphins in 2013, stated that it was the right time for him to make the decision after more than a decade with the team. He cited the strong financial position of the business and the quality of the staff as reasons for his confidence in the organization's future.
"I love the Dolphins and the people here, but after 13 years it was just the right time for me to make this decision," Garfinkel said in a statement. "The business has never been in a better place and the team of people we have here is second to none in sports."
During his tenure, Garfinkel oversaw significant financial growth for the Dolphins, increasing annual revenues by over 400 percent and securing more than $3 billion in future sponsorship income. He also privately funded a $550 million renovation of Hard Rock Stadium, supervised the development of the team's training complex, and expanded the Dolphins Cancer Challenge into the NFL's largest charitable fundraiser.
Dolphins Chairman and Owner Stephen M. Ross praised Garfinkel's impact, calling his executive tenure one of the most impactful in professional sports history. Ross noted that Garfinkel built an exceptional leadership team and a strong foundation for the organization's continued success.
"Tom has had one of the most impactful executive tenures in professional sports history," Ross said. "When he joined our organization, we envisioned creating a world-class sports and entertainment company that would redefine what was possible for a franchise, a stadium and a community. Together we turned that vision into reality."
Ross also announced the formation of Ross Sports & Entertainment (RSE), a new entity that will consolidate the Dolphins, Hard Rock Stadium, the Miami Grand Prix, the Miami Open tennis tournament, and the Precision Drive Club. Daniel Sillman, Ross's son-in-law, has been named CEO of RSE.