Houston Dynamo and Dash Owner Ted Segal is in “advanced talks” to sell the Dash for $120 million to the RHC Group, according to Sportico.
The Dynamo and Dash declined to comment on the story to the Houston Chronicle.
A group led by Segal bought the Dynamo and Dash, along with Shell Energy Stadium, in 2021.
The RHC Group is described on its website as “an investment and philanthropic platform dedicated to empowering organizations, programs and individuals at the intersection of sports, entertainment and the community.”
Richard Hsiao, 24, is the founder of the RHC Group.
Sportico reports Hsiao is the son of a businessman who is imprisoned in China on charges including embezzlement. Xiao Jianhua, a billionaire in China and Hsiao’s father, was sentenced to 13 years in prison in 2022 after being charged with embezzlement and bribery, according to the BBC. The NWSL is “currently seeking additional information on the source of RHC’s money,” Sportico reports, but notes sources say the organization “was funded via money from the independent wealth of Hsiao’s mother.”
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Hsiao announced on his Instagram in July that RHC Group had become the majority owner of Aris BC, a basketball team in Greece.
The RHC Group website lists three pillars for the company: women’s sports; emerging and established sports leagues and teams; and entertainment and consumer trends.
A LinkedIn post from the RHC Group from last year on the NWSL Championship says the following: “It’s clearer than ever that continuing to invest in women’s sports pays off – we’re excited about the future and the growth that lies ahead.”
The Houston Dash first began play in the 2014 NWSL season. Reports that Segal was looking at potentially selling the Dash first emerged in January.
Richard Hsiao is clearly not your typical sports team owner, but he does have some experience with that, so here’s hoping he’ll do well if this deal goes through. The Dash have not been as successful overall as the Dynamo have been, and they were one of the NWSL clubs that fired a coach for abusive behavior – as it happens, few months after Segal bought the team – so they could benefit from having an owner that might be more focused on them. We’re going to be Dash season ticket holders next year after two years of doing the same for the Dynamo, so I’m rooting for them to emerge from this in a better place. Good luck, y’all.