Lin to Buy Miami Dolphins Stake At $12.5 Billion Valuation

Lin Bin, the billionaire co-founder of Chinese consumer electronics company Xiaomi Corp., has reached an agreement to buy a 1% stake in the Miami Dolphins football team at a $12.5 billion valuation, according to people familiar with the matter.

Lin’s 1% stake in the holding company that owns the Dolphins would also include assets like the Formula 1 Miami Grand Prix and Hard Rock Stadium, the largest stadium venue in South Florida.