Report: Mark Cuban selling majority stake of Dallas Mavericks
Mark Cuban, the billionaire entrepreneur and owner of the Dallas Mavericks NBA basketball team, is reportedly selling a majority stake in the franchise to casino magnate Miriam Adelson.
The news was first reported by The Athletic’s Shams Charania, who said that the deal is worth around $3.5 billion. Cuban would retain a minority stake in the team and continue to have control of basketball operations, according to the report.
Adelson, the widow of Las Vegas casino mogul Sheldon Adelson, is the majority owner of Las Vegas Sands Corp. She is also the founder and president of the Dr. Miriam Adelson Foundation, which supports medical research and education.
The sale of the Mavericks would be the largest-ever ownership transfer in NBA history. The team is currently valued at $2.15 billion, according to Forbes.
Cuban bought the Mavericks in 2000 for $280 million. He has since turned the team into one of the most successful in the NBA, winning the championship in 2011.
Cuban is also a well-known investor and entrepreneur. He is the co-founder of Broadcast.com, which was once one of the most valuable internet companies in the world. He is also a frequent guest on the television show “Shark Tank.”
Adelson is a newcomer to the world of professional sports. However, she is a savvy businesswoman with a deep understanding of finance. She is also a philanthropist who is committed to making a positive impact on the world.
The sale of the Mavericks is expected to close in the coming months. The deal is still subject to approval by the NBA Board of Governors.
Here is a timeline of events leading up to the sale:
- 2000:Mark Cuban buys the Dallas Mavericks for $280 million.
- 2011:The Mavericks win the NBA championship.
- 2023:Shams Charania reports that Cuban is selling a majority stake in the Mavericks to Miriam Adelson for $3.5 billion.
- 2023:The Dallas Morning News reports that Cuban would retain a minority stake in the team and continue to have control of basketball operations.
- 2023:The sale of the Mavericks is expected to close in the coming months.
The sale of the Mavericks is a major development in the NBA. It is also a sign that Cuban is ready to move on from the team that he has owned for over 20 years.
It is unclear what Cuban’s plans are for the future. However, he is a successful entrepreneur with a wide range of interests. It is likely that he will continue to invest in new businesses and opportunities.
Adelson is a new owner to the NBA. However, she is a savvy businesswoman with a deep understanding of finance. She is also a philanthropist who is committed to making a positive impact on the world.
It will be interesting to see how Adelson runs the Mavericks. She is likely to bring a fresh perspective to the team. She is also likely to invest in the team and make it even more successful.
The sale of the Mavericks is a major story in the world of sports and business. It is also a sign of the changing times in the NBA. The league is becoming increasingly global and is attracting new investors from all over the world.
It will be exciting to see what the future holds for the Dallas Mavericks and the NBA.