Mark Cuban, the long-standing face of the Dallas Mavericks, has bought his majority stake within the franchise. The sale, which befell in late 2023, marks the top of Cuban’s 23-year tenure because the workforce’s majority proprietor.
What Occurred: Cuban bought his majority stake for a staggering $3.5 billion. This important transfer represents a brand new chapter for each the Mavericks and Cuban, who performed a pivotal function in elevating the workforce from mediocrity to one of the revered organizations within the NBA.
In a current video interplay, Cuban cited new enterprise ventures and household issues as the first causes for the sale.
“In a social media world as we speak, the critics of the possession of any skilled sports activities workforce will be brutal,” Cuban mentioned. “I don’t need my children probably feeling the stress to stroll into my spot as proprietor and attempt to cope with that.”
The bulk stake was bought by Miriam Adelson, widow of late on line casino tycoon Sheldon Adelson, and her son-in-law, Patrick Dumont, who assumed the function of the workforce’s governor.
Learn Additionally: Mark Cuban’s Million-Greenback Recommendation To Teenagers: ‘If I Had been 16 Once more, I’d Begin This Profitable Aspect Hustle’
Regardless of the sale, Cuban will retain a 27 % stake and proceed to supervise basketball operations, guaranteeing the workforce’s future stays carefully linked to its Dallas roots.
Why It Issues: Below Cuban’s management, the Mavericks underwent a big transformation, evolving from a struggling workforce to NBA champions in 2011. His ardour for the sport and funding in state-of-the-art services set a brand new normal for different franchises.
“When I purchased the Mavs, it wasn’t a monetary funding,” Cuban mentioned. “And truthfully, promoting it wasn’t one thing I used to be excited to do, however I believed it was the suitable time to do it. None of this was about economics; it was and is about issues of the guts.”
Learn Subsequent
This content material was partially produced with the assistance of AI instruments and was reviewed and printed by Benzinga editors.
Market Information and Information dropped at you by Benzinga APIs
© 2025 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.