The Dallas Mavericks have had one of the most outspoken and flashy owners the NBA has seen with Mark Cuban. He’s a superfan who bought his favorite team for $285 million, but now it seems he’s beginning to cash out on his investment. Cuban sold a majority stake in the franchise to Miriam Adelson and her family at the valuation of $3.5 billion.
“Sources: Mark Cuban is selling a majority stake of the Dallas Mavericks to Miriam Adelson and casino tycoon Adelson family for a valuation in the range of $3.5 billion. In one of the most unique setups in NBA history, Cuban keeps shares in the team and full control of 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
Cuban is in the process of many changes, and he also announced his departure from the hit show Shark Tank at the end of the 16th season. It’s clear Cuban is scaling back, but we don’t know if selling a majority stake in the Mavs was motivated by a need to have more liquidity or because Cuban thinks it’s time to start cashing in on the high value of NBA teams before anything changes.
He’ll still be a team owner with a large percentage of ownership shares, but just not the majority stake. Staying on to run the basketball operations means that we likely see the organization operate in the same way they have been for years, but with the difference being that the top boss of the team will now be the Adelson family and not Cuban.
How Will This Impact The Mavericks?
The Mavericks have been run like one of the more grounded NBA franchises in recent years. The team didn’t go into the luxury tax for 11 straight years because the team didn’t have an owner that could financially compete with the likes of Steve Ballmer on the Clippers and Joe Lacob on the Warriors. They were in the tax last year for a disastrous season and cut salaries to get under the tax line this season.
With a new owner who has some of the deepest pockets of any sports team owner in the USA, the Mavericks can progress to compete among the best in the NBA. This would be great news for the likes of Luka Doncic, who could see the team be more fearless while acquiring talent around the NBA and not worry about the tax implications.
Miriam Adelson is a 78-year-old physician and political donor who will enter the sports arena with this investment into the Mavericks. She’s the fifth-richest woman in the world and is the majority owner of the Las Vegas Sands Casino. Cuban’s net worth was inherently linked to his ownership of the Mavericks, but the team will have a new majority owner in Adelson, who would qualify as the second-richest in the NBA behind Steven Ballmer of the Clippers.
As long as Cuban remains in charge of the basketball operations, it’s unlikely we see any changes to the team itself. Yeah, they definitely need to make a trade to add more size, but they would’ve explored even without the sale of the team. Hopefully, the desire to make a splash under new ownership will push Dallas into acquiring a major talent to fully throw their support behind the roster and their winning capabilities.
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