Mark Cuban To Retain 25% Stake In Dallas Mavericks After Sale To Adelson Family: Report

Entrepreneur Mark Cuban will retain a 25% stake in Dallas Mavericks, now valued at $4.03 billion, and remain an integral part of the basketball operations team under the title of “alternate governor”.

What Happened: Cuban is divesting the majority of his shares in the Mavericks, a deal estimated to be worth $3.5 billion, to the Adelson and Dumont families. Despite the sale, Cuban will hold onto a significant portion of his shares and maintain his influence in basketball operations, Sportico.com reported on Wednesday.

As quoted by ESPN’s Tim McMahon on the Brian Windhorst podcast, an insider stated that Cuban will continue to manage basketball operations indefinitely.

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The new majority owners, who also own Las Vegas Sands, have expressed their intention to promote legalized gambling in Texas. Their long-term strategy includes introducing casinos across Texas and possibly constructing a new Mavericks arena in Dallas, envisioned as a combination resort and casino.

The agreement enables Cuban to concentrate on the basketball side of the franchise, while the Adelson family will take over the majority of the business operations. The sale is scheduled for final approval on Dec. 20, when the NBA’s Board of Governors will vote on the transaction. The completion of the deal is expected to proceed without any obstacles.

Why It Matters: This move by Cuban follows a series of career decisions suggesting a shift in his professional interests. Cuban has left his role on the reality TV series Shark Tank and sold his majority stake in the Dallas Mavericks Despite these changes his ongoing role in the Mavericks’ basketball operations indicates his continued commitment to the sport The upcoming changes in ownership and potential for legalized gambling in Texas could significantly alter the landscape of the team and the sport in the state.

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