A technology executive who helped build one of China’s largest electronics companies has completed a groundbreaking purchase of Miami Dolphins ownership, the NFL franchise revealed Tuesday.
Lin Bin, who co-founded smartphone manufacturer Xiaomi and serves as its vice chairman, has acquired a 1% ownership portion of the Dolphins organization in a transaction that values the franchise at an unprecedented $12.5 billion.
The National Football League gave its blessing to the minority ownership deal on Tuesday, with the transaction expected to finalize within days. Beyond the football team, the purchase encompasses Hard Rock Stadium, the Formula 1 Miami Grand Prix racing event, and the Miami Open tennis tournament.
This $12.5 billion price tag establishes a new benchmark as the largest valuation ever recorded for a partial ownership transaction across all professional sports.
Bin established Xiaomi alongside other partners in 2010 after building extensive experience in the technology sector. The executive completed his master’s studies at Drexel University in Philadelphia during 1992 and spent more than fifteen years developing software for industry giants Microsoft and Google before launching his own company.
“I am privileged to have the opportunity to invest in the Miami Dolphins and the amazing sports business built by the great entrepreneur Stephen Ross,” Bin said in a statement. “This world-class team operates not only the Dolphins but also the incredible Hard Rock Stadium and a host of renowned sporting events from Formula 1 racing to the Miami Open. As a huge sports fan, it’s a wonderful investment and learning opportunity for me.”
Team owner Stephen Ross, who purchased the Dolphins for $1 billion back in 2009, has conducted several partial ownership sales in recent years. During 2024, the organization welcomed investment from Ares Management funds alongside Brooklyn Nets ownership figures Joe Tsai and Oliver Weisberg. Ares Management secured a 10% ownership share, while Tsai and Weisberg combined to purchase 3% of the franchise.
The Dolphins organization is currently undergoing significant changes that include bringing aboard new general manager Jon-Eric Sullivan and head coach Jeff Hafley.
