In a surprising move, Dallas Mavericks owner Mark Cuban has announced that he is selling a majority stake in the team to casino magnate Miriam Adelson and her family. The deal, which is valued at around $3.5 billion, is expected to close in the coming months.
Cuban, who has owned the Mavericks since 2000, has not given a specific reason for selling the team. However, there are a number of possible factors that may have contributed to his decision.
One possibility is that Cuban is simply looking for a change of pace. He has been a vocal critic of the NBA in recent years, and he may be tired of the constant drama and scrutiny that comes with owning a professional sports team.
Another possibility is that Cuban is simply looking to cash out. The NBA is currently negotiating a new media rights deal that is expected to be worth billions of dollars, and Cuban could be looking to capitalize on the increased valuation of the team.
Whatever the reason, Cuban’s sale of the Mavericks is a significant event for the NBA. The Mavericks have been one of the most successful teams in the league in recent years, and Cuban has been a popular and influential figure in the league.
It remains to be seen what Cuban will do next. He has said that he is interested in investing in other businesses, and he may also continue to pursue his philanthropic endeavors.
Only time will tell what the future holds for Mark Cuban, but one thing is for sure: he will be leaving a lasting legacy on the Dallas Mavericks and the NBA.