Xiaomi (HKG:1810) Co-Founder Lin Bin agreed to acquire a 1% stake in a holding company that owns the Miami Dolphins football team at a $12.5 billion valuation, Sportico reported Tuesday, citing people familiar with the matter.
The holding company also owns Hard Rock Stadium, Formula 1's Miami Grand Prix and part of the Miami Open tennis tournament, the sports industry-focused digital content platform said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)