The Houston Dash are once again seeking a buyer, relaunching the formal sale process after previous negotiations fell through last year with a group connected to a Chinese billionaire who has since disappeared.
Sale Process Restarted After Previous Deal Stalled
Team owner Ted Segal, who also owns the Houston Dynamo, had been in advanced talks to sell the NWSL club to RHC Partners for approximately $120 million. Sportico previously reported that those discussions ended due to concerns from the NWSL’s central office regarding RHC and the origins of its funding, according to multiple sources.
Sources indicate the Dash sale process is now focused on other potential buyers. Representatives for the NWSL and RHC declined to comment, and a team representative did not immediately respond to a request for comment.
League Growth Impacts Valuation
While RHC may have been prepared to offer a higher price last year, the renewed sale effort benefits from increased data points demonstrating the commercial growth of the NWSL. The league is currently evaluating new expansion options, potentially at fees exceeding the $165 million paid for the Atlanta franchise.
However, the Dash are not currently among the league’s most valuable teams. Sportico valued the team at $74 million in September 2024, ranking 10th out of 14 franchises. The Dash share Shell Energy Stadium with the Dynamo.
Complex Ownership and Funding
RHC was founded by Richard Hsiao, the American-born son of Chinese billionaire Xiao Jianhua. Xiao reportedly amassed his fortune through connections with Communist Party leaders but is currently imprisoned following an abduction and subsequent disappearance. RHC’s funding comes from the independent wealth of Hsiao’s mother, Zhou Hongwen, according to reports.
Separating NWSL clubs from joint ownership with MLS teams presents challenges, as seen with the Portland Thorns’ recent sale. The Dash and Dynamo likely share staffing and infrastructure, requiring new owners to establish independent operations.
Segal purchased both the Dash and Dynamo in May 2021 for around $400 million, with the women’s team contributing minimally to the initial valuation. Since then, both league valuations and commercial opportunities have grown significantly. The average team was valued at $105 million in 2024 and is likely worth more now.
Frequently Asked Questions
Who owns the Houston Dash?
Ted Segal owns both the Houston Dash and the Houston Dynamo.
What was the proposed sale price for the Dash last year?
Ted Segal was in advanced talks to sell the Dash to RHC Partners for about $120 million.
Why did the previous sale fall through?
The sale ended amid concerns from the NWSL’s central office about RHC and the provenance of its money, according to multiple sources.
As the Dash seek new ownership, will the evolving landscape of the NWSL attract a buyer willing to invest in the team’s future?
