Mark Cuban Sells Majority Stake in Dallas Mavericks to Casino Families

Cuban Retains 27% Stake and Control of Basketball Operations, Sees Future Advantages in Real Estate

Mark Cuban has sold the majority stake in the Dallas Mavericks to the Adelson and Dumont families, who run the Las Vegas Sands Corp. The deal was approved by the NBA and is valued at over $4 billion.
Cuban will retain a 27% stake in the club and maintain control of basketball operations. Patrick Dumont, Adelson's son-in-law and president and COO of Las Vegas Sands, will serve as Mavericks governor.
The new owners are known for their strong ties to the hotel and casino industry. Cuban believes this partnership will benefit the team, particularly in terms of real estate and potential future development of a new arena.
Despite the sale, Cuban insists that the franchise has no plans to leave Dallas and that he will continue to have the final say in hiring and firing coaches and signing free agents.
Miriam Adelson, the controlling shareholder of Las Vegas Sands Corp., has previously lobbied for the legalization of casino gambling in Texas. However, efforts to legalize gambling in the state have so far been unsuccessful.