Houston Dash Sale: What We Know About the Potential $120 Million Deal

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HOUSTON — The Houston Dash appear to have settled on a suitor to buy the NWSL club.

Sportico reported on Wednesday that Ted Segal, owner of the Dash, is in advanced talks to sell the club to the RHC Group for $120 million.

The club say they have no further comment on the subject.

With the sale potentially across the finish line, we explore any questions you may have about the future of the Dash:

Who is the RHC Group?

RHC Group describes itself as an investment and philanthropic enterprise focused on sports, entertainment, and community initiatives.
Richard Hsiao, 24, is the founder and CEO. Born in the United States, he is the son of Xiao Jianhua, a Chinese billionaire currently serving a prison sentence for financial crimes.
Reportedly, the funding backing RHC (and Hsiao’s affiliated venture fund J17 Capital) is tied to his mother, Hongwen Zhou, who independently possesses substantial wealth.
Women’s Sports is listed on the group’s website as one of its pillars.
RHC Group’s investments include TMRW Sports, Aris Basketball Club and BALLERS social club.

What Would Be Sold?

The proposed deal appears to cover only the Houston Dash.
Segal is expected to retain control of the Houston Dynamo MLS franchise, its related assets (i.e. Dynamo HQ, Houston Sports Park), and Shell Energy Stadium.
The Dash would remain based in Houston under the arrangement. This is something that Segal as well as the Dash’s President of Women’s Soccer is Angela Hucles Mangano have expressed that the team will remain in Houston.

Valuation & Deal Size: A Premium Over Prior Estimates

The reported $120 million price is well above past valuations. Sportico previously estimated the Houston Dash at $74 million, while Forbes most recently valued the club at $86 million.

Due Diligence & League Approval

This is not a done deal. Several hurdles must be cleared before ownership can officially transfer:

Due Diligence: The NWSL is reportedly conducting a thorough investigation into the finances, funding sources, and governance structure of RHC.
League Governance Approval: The NWSL Board of Governors holds the right to accept or reject a change in ownership based on league rules and standards.
Regulatory / Political Scrutiny: Given the background of Hsiao’s family and the international dimension, external scrutiny — whether regulatory or media based —is expected.

Potential Impacts & Considerations

Club Investments & Ambitions — A new, deep-pocketed owner might inject capital into facilities, marketing, and player development, helping the Dash compete more aggressively in the NWSL. Something that the team desperately needs.
Fan & Community Reaction — Fans may express caution or concern over transparency, community ties, and long-term commitment, especially given the buyer’s background. People have been wanting a Houstonian or some who really loves the sport.
League Significance — A high-profile sale could raise the bar for valuations of other NWSL clubs and attract more interest in investment across women’s soccer.
Separation from Dynamo — The uncoupling of Dash from the Dynamo’s ownership could lead to operational changes (shared resources, cross-promotion) or more independent strategy for the women’s side. The lack of promotion for the Dash has been an issue for the team in the past.
Risk Factors — The concentrated premium, ownership youth, and opaque financial ties bring risk. If revenue expectations or competitive returns fail to materialize, stability could be challenged.