Mark Cuban isn’t new to making history, and now, it appears he is back at it again.
According to reports, the billionaire team owner is selling a majority stake in the Dallas Mavericks. However, the agreement would allow Cuban to maintain a minority stake and control of Basketball Operations for the team.
The deal, first reported by Marc Stein, is being finalized and reportedly valued at $3.5 billion.
The Adelson family is in the process of buying a significant stake in the Dallas Mavericks, @TheSteinLine has learned.
League sources say Mark Cuban would continue to retain operational control of the team.
More to come on this breaking news via https://t.co/A6ycVmnrjq
— Marc Stein (@TheSteinLine) November 28, 2023
Sources say the new Mavericks owner is the widow of the late Casino Mogul Sheldon Adelson. According to Forbes, Miriam Adelson’s network is valued at $32.3 billion, landing her among the Top 5 richest women in the world.
When Cuban first bought the Mavericks, he paid $285 million in 2000. According to Forbes, with a current value of about $4.5 billion, the businessman will be getting a massive return on his investment.
This announcement comes after Cuban revealed he will not return for the 16th season of the ABC investment show Shark Tank .
Someone like Cuban is so influential and essential in the business world that it makes sense that he wants to keep his hands in the Mavericks organization; however, everyone eventually wants something fresh, a new challenge to immerse themselves in.
Upon the deal’s completion, sources tell TMZ that Miriam plans to build a new arena for the Dallas team and a Casino if a gambling bill passes in Texas.