Dallas Mavericks owner Mark Cuban is selling a majority stake of the franchise to the family of Las Vegas billionaire Miriam Adelson for a valuation in the range of $3.5 billion, according to NBA insider Marc Stein.
Cuban will retain shares in the Mavericks and full control of basketball operations.
Cuban has owned the Mavericks since 2000. He purchased a majority share in the franchise for $285 million. Dallas won the 2011 championship over the Miami Heat behind Hall of Famer Dirk Nowitzki.
NBA NEWS & RUMORS: Mark Cuban, Dallas Mavericks Updates
Adelson’s prowess in real estate development with the prospect for arena development as well as launching casino gaming and entertainment in Dallas were appealing factors in Cuban’s sale, according to The Athletic.
Since Nico Harrison was hired as the Mavericks’ new general manager in 2021, Cuban has been a less influential figure in front-office matters.
Luka Doncic and Kyrie Irving are the two best players on the Mavericks. Dallas hasn’t won a playoff series since 2011. The team missed the playoffs last season despite having Doncic and Irving.
If Doncic makes an All-NBA team this season, he would become eligible to sign a five-year, projected $318 million supermax extension in 2025.
The Mavericks signed Doncic to a five-year, $215 million contract in August 2021. Meanwhile, Irving signed a three-year, $126 million contract with Dallas this past offseason.
NBA NEWS & RUMORS: Mark Cuban, Dallas Mavericks Updates
Doncic is averaging 30.5 points, 7.9 rebounds and 7.8 assists this season, while Irving is averaging 24.4 points, 4.2 rebounds and 5.5 assists. The Mavericks have played better this season compared to last season.
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