For about two decades, Mark Cuban has owned the Dallas Mavericks, and while the team has experienced plenty of disappointment in the playoffs, his tenure has been relatively successful.
But according to NBA insider Shams Charania, a change in ownership is about to happen for the team.
Cuban is reportedly selling a majority stake in the Mavericks to billionaire Miriam Adelson and her family, who own multiple Las Vegas casinos.
However, per Charania, Cuban will still maintain full control over basketball operations.
Sources: Mark Cuban is selling a majority stake of the Dallas Mavericks to Miriam Adelson and casino tycoon Adelson family for valuation in range of $3.5 billion. In one of most unique setups in NBA history, Cuban keeps shares in team and full control of basketball operations. pic.twitter.com/9iTqZvoGX1
— Shams Charania (@ShamsCharania) November 28, 2023
Fans are wondering why Cuban, who is 65 years of age, is doing this.
he leavin Shark Tank, sellin the Mavs, is bro good?
— Nate Capalot (@LeNooshi) November 28, 2023
Mark about to run for President lol
— NBA University (@NBA_University) November 28, 2023
These two fans feel this arrangement is a win-win for him.
he sold the team and still controls it. Sounds like a W to me
— Power DF (@PowerGotNow) November 28, 2023
Basically he gets to play around with the team without worrying about money at all lol.
Mark is playing 2k irl😭😭😭
— 𝘿𝙐𝙁𝙁𝘼𝙇𝙊 (@Duffal0) November 28, 2023
Cuban has been entrepreneurial since he was very young, and he was one of the early pioneers of the computer industry, especially once the internet hit critical mass in the 1990s.
It earned him enough wealth to purchase the Mavs in early 2000 from H. Ross Perot Jr., the son of former presidential candidate Ross Perot.
At the time, the Mavs had been an NBA laughingstock for many years, but under Cuban’s leadership, they quickly became a contender.
Behind stars Steve Nash, Dirk Nowitzki, and Michael Finley, they reached the Western Conference semifinals in 2001, and it was the first time since 1990 they had even reached the playoffs.
After years of untimely playoff exits, including a controversial NBA Finals loss in 2006, Dallas finally got their world championship rings in 2011 by defeating LeBron James’ Miami Heat in the final round.
This season, after a disastrous 2022-23 campaign in which they missed the play-in tournament, the Mavs hold a 10-6 record and are one of basketball’s better offensive teams behind triple-double maestro Luka Doncic and ball-handling wizard Kyrie Irving.