Dallas Mavericks chairman Mark Cuban, who purchased the franchise for $200 million in 2000, has reportedly sold a “significant stake” in the team.
The news was first reported by league insider Marc Stein, who added that Cuban would “continue to retain operational control” of the Mavericks. The longtime majority shareholder will reportedly sell ownership of the franchise to the Adelson family, per reports.
Shams Charania noted that based on the sale, the valuation of the franchise is now $3.5 billion. Charania added that this is “one of the most unique setups” in league history because Cuban will retain his shares in the organization and he will also maintain “full control and final say” when it comes to basketball operations.
Cuban, who also announced on Monday that he will leave ABC’s Shark Tank next year after spending more than a decade with the program, has reportedly made a very surprising deal to sell the Mavericks.
Now, fans are curious about what will come next for the incredibly well-known businessman and TV personality.
This seems like an incredible arrangement for @mcuban. Wow. https://t.co/Zwvz2rHTPy
— Alex Kennedy (@AlexKennedyNBA) November 28, 2023
Mark Cuban pockets $3.5 billion while still being able to run the Mavericks moving forward. Pretty incredible. https://t.co/dtP5iPMm0X
— Evan Sidery (@esidery) November 28, 2023
So Mark Cuban gets to remain in control of all the fun stuff of NBA ownership while cashing in on his investment, gaining liquidity, and bringing on another owner to cover annual expenses.
Sounds like an awesome deal. https://t.co/r8fY0sUnLK
— Billy Reinhardt (@BillyReinhardt) November 28, 2023
You can buy my crib. But I get to eat anything I want in the fridge. Control the thermostat and i keep the master bedroom. https://t.co/pcIaTjGYqN
— aaron. (@ayroned) November 28, 2023
Mark Cuban’s negotiating skills stay undefeated https://t.co/cqrytFLkQw
— Krysten Peek (@krystenpeek) November 28, 2023
Mark Cuban creates his own Shark Tank deal… Cuban sells a majority stake but keeps team shares and full control of basketball ops. Wow, what a deal for him.
He also wants a casino arena when gambling becomes legal in Texas. Adelson family helps make that happen. https://t.co/6pY9xMmclE
— Landon Thomas (@sixfivelando) November 29, 2023
