Tennis
NBA Approves Mark Cuban's Mavericks Sale to Las Vegas Casino Families
by privatebet.com - 2023/12/29
Mark Cuban served as the majority owner of the Dallas Mavericks for over two decades, but those days will soon be behind him. NBA officially proved his sale of the Mavs to the Las Vegas Sands Corporation, for an alleged sum of $3.5 billion. The Shark Tank star cashed out $285 million to buy the Dallas Mavericks from H. Ross Perot Jr. in 2000 and publicly supported the team after coming on board as its majority owner. They only won 40% of their games during Cuban’s tenure but managed to make it to the NBA Finals in 2006, where they lost to the Miami Heat. Cuban made around $3 billion after agreeing to sell the team for approximately $3.5 billion. He’ll still retain control of basketball operations, and will reportedly retain 27% of the team after selling the majority stake to the Adelson and Dumont families, who run the Las Vegas Sands Corporation. They released a joint statement announcing the sale and said they want to improve the Mavericks going forward through their commitment and additional investment. “We look forward to partnering with Mark Cuban to build on the team’s success and legacy in Dallas and beyond. The goal is to win and to have a team that proudly represents the greater DFW area and serves as a strong and valuable member of the local community,” reads their official statement.