Mavericks Owner Mark Cuban To Sell Majority Stake To Billionaire Miriam Adelson, Retaining Control of Team

Photo: Instagram/Mark Cuban

Dallas Mavericks owner Mark Cuban is reportedly selling a majority stake in the franchise to billionaire Miriam Adelson, the largest shareholder of Las Vegas Sands. 

Despite the sale, Cuban is set to maintain control of the team, according to NBA insiders Marc Stein and Shams Charania.

Miriam Adelson, known for her vast wealth and recent stock sale of approximately $2 billion in Las Vegas Sands, is entering the world of professional sports by acquiring a significant share of the Mavericks.

Photo: Instagram/Mark Cuban

The deal values the team at $3.5 billion, slightly below Forbes' recent valuation of $4.5 billion, ranking them as the seventh-most valuable NBA franchise. Cuban's strategic move aligns with his ambition to relocate the Mavericks to a new arena, ideally situated within a resort and casino. 

This plan may involve a partnership with Las Vegas Sands, the world's largest casino company. However, the challenge lies in Texas' current legal stance on sports betting and casinos.

Since Mark Cuban's initial purchase of the Mavericks in 2000 for $285 million, the team has experienced notable success, notably winning the NBA title in 2011. 
The Mavericks' current season, the third under head coach Jason Kidd, holds promise with a 10-6 record.

In a surprising announcement, Cuban revealed his intention to depart from the popular show "Shark Tank" after its 16th season next year.

Having been a mainstay since 2011, Cuban's role as a "shark" on CNBC's entrepreneurial series marks an end to a notable chapter in his television career.

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Source: Yahoo Sports


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