Mark Cuban explains why he sold his majority stake of the Dallas Mavericks
Mark Cuban sees a future of NBA ownership where the advantages will be in real estate.
DALLAS — Mark Cuban sees a future of NBA ownership where the advantages will be in real estate.
The high-profile billionaire says that’s why he sold his majority stake in the Dallas Mavericks to a pair of families with strong ties to the hotel and casino industry.
The NBA on Wednesday approved Cuban’s sale of a controlling interest in the Mavericks to the Adelson and Dumont families, who run Las Vegas Sands Corp.
The deal was approved just shy of a month since Miriam Adelson and Sivan and Patrick Dumont announced their intention to buy the club. The purchase is in the valuation range of $3.5 billion.
Patrick Dumont, Adelson’s son-in-law and president and chief operating officer of Las Vegas Sands, will serve as Mavericks governor. Adelson is the widow of casino magnate Sheldon Adelson.
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