Houston — October 8, 2025 — Houston Dash owner Ted Segal is reportedly in advanced negotiations to sell the National Women’s Soccer League (NWSL) team for $120 million, with the buyer being a group led by Richard Hsiao, the 24-year-old son of Chinese billionaire Jianhua Xiao. The deal, which was first reported by Sportico on Wednesday, would see the ownership of the NWSL club change hands, potentially marking a new chapter for the team.
The RHC Group, founded by Hsiao, has emerged as the leading candidate to acquire the Dash. However, the sale is expected to face increased scrutiny due to the reported business ties of Hsiao’s father, Jianhua Xiao, whose wealth is said to be linked to dealings with Communist Party leaders in China. According to sources, the NWSL is examining the financial background of RHC Group to ensure compliance with league regulations, particularly concerning the potential implications of its business connections.
While the deal is still in the negotiation stage, sources close to the transaction have confirmed that Segal is keen on moving forward with the sale. The Houston Dash, based at Shell Energy Stadium, have made significant strides in the NWSL in recent seasons, and the new ownership group is expected to bring further investment and ambition to the club.
If completed, the sale would represent one of the largest transactions in NWSL history, highlighting the growing interest and investment in women’s professional sports. However, any deal would be subject to approval by the NWSL, which is carefully reviewing the ownership structure to ensure it aligns with the league’s governance standards.
The potential sale of the Houston Dash underscores the continued expansion and commercialization of women’s soccer, with increasing global interest in the NWSL as the sport gains more traction both domestically and internationally.
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