Chinese tech giant buys Miami Dolphins ownership stake at record valuation
Chinese billionaire Lin Bin has purchased a 1% stake in the Miami Dolphins at a record valuation of $12.5 billion. The deal sets a new benchmark for NFL team valuations and may impact the sale of other franchises, including the Seattle Seahawks.
Miami Dolphins owner Stephen M. Ross has sold a 1% stake to Chinese billionaire Lin Bin at a record $12.5 billion valuation. The deal includes ownership in the team's parent company, which also owns Hard Rock Stadium and part of the Miami Open tennis tournament. This sale is a result of the NFL's 2024 policy change allowing private investment. The valuation surpasses the previous record held by the New York Giants. Lin Bin, vice chairman of Xiaomi, has an estimated $10.3 billion net worth. The NFL's decision to allow private equity firms to acquire minority stakes has opened up new capital streams for teams.
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