Report: Chinese billionaire buys Dolphins stake at $12.5B valuation

(Photo credit: Nathan Ray Seebeck-Imagn Images)

Chinese-American tech billionaire Lin Bin purchased a small stake in the Miami Dolphins at a valuation of $12.5 billion, a record for a publicly known minority transaction, Sportico reported Tuesday.

Bin is acquiring a 1% stake in the holding company that owns the Dolphins, Hard Rock Stadium, Formula 1's Miami Grand Prix and part of the Miami Open tennis tourn