Connect with us

Hi, what are you looking for?

Sports

Mark Cuban to Sell Majority Stake in Dallas Mavericks

Dallas Mavericks owner Mark Cuban shocked both the sports and business world Tuesday with the announcement that he would sell a majority stake of the team to billionaire Miriam Adelson and the casino tycoon Adelson family for a reported $3.5 billion.

Mark Cuban
Mark Cuban

By Dorothy J. Gentry
Sports Editor
Photo: Dorothy J. Gentry

Dallas Mavericks owner Mark Cuban shocked both the sports and business world Tuesday with the announcement that he would sell a majority stake of the team to billionaire Miriam Adelson and the casino tycoon Adelson family for a reported $3.5 billion. 

Adelson is the largest shareholder of the Las Vegas Sands casino. 

Cuban will reportedly keep shares in the team and will maintain full control of basketball operations. 

The billionaire shark’s announcement that he is selling the Mavs – which he bought in 2000 for $285 million – came a day after he said he would be leaving the popular “Shark Tank” after 16 years. 

The Dallas Mavericks won the 2011 NBA Championship.  It has previously been reported that the 65-year-old Cuban wants to legalize gambling in Texas and build a casino resort arena. 

Cuban was at the Mavs game versus the Houston Rockets Tuesday night but did not immediately address the media.

Stay tuned to Texas Metro News for more on this developing story. 

Written By

Click to comment

You must be logged in to post a comment Login

Leave a Reply

ADVERTISEMENT

IMM MASK Promos

ADVERTISEMENT

You May Also Like

Sports

The Dallas Mavericks had a short summer. And that was just fine by them.

Sports

The WNBA, which concluded its regular season on Thursday, has named its season-long leaders in three categories.

Sports

It’s been a tough few weeks for the Oak Cliff area near Ledbetter and Marsalis and for the nearby non-profit For Oak Cliff.

News

By Dorothy J. GentrySports Editor From Dallas to Las Vegas to Indiana and beyond. WNBA records were shattered all over the nation in the...

Advertisement