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Stephen Ross is finalizing a deal with an investor to purchase a 1 percent stake in the Miami Dolphins at a price that puts the valuation of the organization at $12.5 billion.
Lin Bin’s price is a record valuation for a 1 percent share, according to sportico.com and confirmed to The Palm Beach Post by a league source. The deal is subject to NFL approval.
The previous record, according to Sportico, was a 10 percent stake in the New York Giants for a valuation exceeding $10 billion.
More Dolphins: Why Dolphins won't be big shoppers in free agency, face 'uphill climb'
Lin is co-founder of the Chinese electronics company Xiaomi and is the 304th richest person in the world, according to Forbes, with a worth of $10.4 billion.
His investment is roughly in line with a comment Ross made in January during a discussion with Bloomberg in Palm Beach. Ross revealed he had been offered nearly $15 billion for the Dolphins, although he did not name the would-be buyer. Ross purchased the team for about $1 billion in 2009.
According to Lin’s online bio, he co-founded Xiaomi in 2010 after serving as the engineering director at Google from 2006-10. He also had various roles at Microsoft from 1995-2006.
Ross’ holding company also owns Hard Rock Stadium and Formula 1 Miami Grand Prix in addition to a share of the Miami Open tennis tournament.
Ross brought aboard investors whose combined interests were for 13 percent of the Dolphins in December 2024. Ares Management took over a 10 percent stake. Brooklyn Nets owners Joe Tsai and Oliver Weisberg obtained 3 percent interest.
This article originally appeared on Palm Beach Post: Former Google engineering director buys 1 percent of Miami Dolphins
Continue reading...
Lin Bin’s price is a record valuation for a 1 percent share, according to sportico.com and confirmed to The Palm Beach Post by a league source. The deal is subject to NFL approval.
The previous record, according to Sportico, was a 10 percent stake in the New York Giants for a valuation exceeding $10 billion.
More Dolphins: Why Dolphins won't be big shoppers in free agency, face 'uphill climb'
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Lin is co-founder of the Chinese electronics company Xiaomi and is the 304th richest person in the world, according to Forbes, with a worth of $10.4 billion.
His investment is roughly in line with a comment Ross made in January during a discussion with Bloomberg in Palm Beach. Ross revealed he had been offered nearly $15 billion for the Dolphins, although he did not name the would-be buyer. Ross purchased the team for about $1 billion in 2009.
According to Lin’s online bio, he co-founded Xiaomi in 2010 after serving as the engineering director at Google from 2006-10. He also had various roles at Microsoft from 1995-2006.
Ross’ holding company also owns Hard Rock Stadium and Formula 1 Miami Grand Prix in addition to a share of the Miami Open tennis tournament.
Ross brought aboard investors whose combined interests were for 13 percent of the Dolphins in December 2024. Ares Management took over a 10 percent stake. Brooklyn Nets owners Joe Tsai and Oliver Weisberg obtained 3 percent interest.
This article originally appeared on Palm Beach Post: Former Google engineering director buys 1 percent of Miami Dolphins
Continue reading...
