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Dream Motor Groupwhich is co-owned by Alabama head coach Nick Sabanpurchased two South Florida Mercedes-Benz stores in a deal valued at roughly $700 million, according to Automotive News.
Saban is an owner next to former Mercedes-Benz USA CEO Steve Cannon and CEO Joe Agresti. Through a July 31 acquisition, the motor group purchased Mercedes-Benz of Cutler Bay, Mercedes-Benz of Coral Gables and a collision center from Bob and Paula Brockway’s Bill Ussery Motors marks Dream Motor’s entry into Florida.
The transaction’s purchase price was approx $700 million for the land, buildings, franchises and body shop, Agresti told Automotive News. The South Florida Business Journal reported that the real estate costs $150 million.
Nick Saban and Dream Motor continue to build out their portfolio. The group now has dealerships in Alabama, Louisiana, Tennessee and Texas. It’s not limited to Mercedes-Benz either, as Saban co-owns a Ferrari dealership in Nashville and an Infiniti in Birmingham.
Speaking with Automotive News, Agresti said with the two new stores, Dream Motor will sell approximately 22,000 new vehicles annually. Expansion is not over. The group is looking at expansion opportunities in Florida, Tennessee and Texas.
“Unlike most dealers who spend a lot of time thinking about franchise diversity, we spend a little bit of time doing that,” Agresti told Automotive News. “We spend more time trying to be the best we can at running the brands we have, so we consider ourselves a bit of Mercedes-Benz experts.
Nick Saban building business portfolio
Saban is not new to scoring business deals away from the football field. The Alabama head coach is starring in a new Aflac commercial this season with Colorado head coach Deion Sanders. Saban has been a longstanding star of the insurance brand’s TV ads.
His trip to Italy this past summer wasn’t just for fun. The seven-time national title winner crossed the Atlantic for a business trip, too, looking into some possibilities with Ferrari. Dream Motor Group also employs more than 500 people.
His Mercedes dealership in Birmingham sold a car to the Ole Miss running back Quinshon Judkins. The 2022 SEC Freshman of the Year said he purchased a car from Saban’s dealership at SEC Media Days. He signed a lucrative financial package with The Grove Collective at Ole Miss last December.
Represented by CAA’s Jimmy Sexton, Saban is the highest-paid coach in college football, making upwards of $11.4 annually. Alabama is currently No. 8 in the College Football Playoffs rankings and travel to Kentucky this weekend for a Noon ET kickoff.