The Miami Dolphins could soon be the league’s most valuable franchise. At least, if you extrapolate what a recent sale of shares means.

Miami Dolphins owner Stephen Ross has sold one percent of his franchise shares to Chinese tech billionaire Lin Bin. The deal is based on a total valuation of the team of $12.5 billion, which means Ross will receive $125 million for one percent.

Despite the sale, Ross retains full control of the Dolphins and has emphasized that he plans to pass the franchise on to his family in the long term. Lin Bin, co-founder of smartphone manufacturer Xiaomi, is thus joining as a minority shareholder and bringing in fresh capital.

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This sale marks a new high in the valuation of NFL teams and underscores the booming market for sports franchises.

Ross had previously sold around 13 percent of the shares in 2023 at a valuation of $8.1 billion, demonstrating how rapidly the value of the Dolphins has risen.

The current deal could have far-reaching implications, such as the planned sale of the Seattle Seahawks, which are currently valued at between $9 billion and $11 billion or more.

This puts Miami at the top of the league’s other top franchises: the Dallas Cowboys are currently considered the most valuable NFL team, with a valuation of around $13 billion.