Dallas Mavericks Owner Mark Cuban in Talks to Sell Majority Stake in Team
Dallas Mavericks owner Mark Cuban is reportedly in discussions to sell a majority stake in the NBA franchise to the family that operates the Las Vegas Sands casino company. The potential deal, valued at around $3.5 billion, would allow Cuban to retain control of basketball operations. The talks are expected to take several weeks to finalize and require approval from the league.
Potential Sale and Partnership
The news of the potential sale was first reported by NBA reporter Marc Stein. Miriam Adelson, the widow of casino magnate Sheldon Adelson, announced earlier that her company would be selling $2 billion of her shares to acquire a professional sports team. Cuban had expressed interest in partnering with Sands, as he has been a strong advocate for legalizing gambling in Texas.
Cuban’s Legacy and the Adelson Family
Mark Cuban gained fame after purchasing the struggling Dallas Mavericks in 2000. Under his ownership, the team transformed into one of the best in the league, with the help of star player Dirk Nowitzki. Miriam Adelson, the controlling shareholder of Las Vegas Sands Corp., is now set to acquire a majority interest in the team. Her husband, Sheldon Adelson, passed away in 2021 at the age of 87.
Approval Process and Future Plans
The sale of the team will need to go through the NBA’s vetting process, which typically takes several weeks. Approval from the league’s Board of Governors is also required. Meanwhile, Cuban has expressed interest in building a new arena in downtown Dallas that would double as a casino resort, should gambling be legalized in Texas. Although the legislative process for legalizing gambling in the state has faced setbacks, Cuban’s involvement in the issue could raise his profile even further.
Continued Presence and Outspoken Nature
Despite the potential sale, Mark Cuban will remain involved in the Dallas Mavericks as the head of basketball operations. Known for his passion for the sport, Cuban is often seen courtside during games. He has also gained a reputation for being outspoken, resulting in numerous fines throughout his ownership, many of which were directed at officials.