Businessman Mark Cuban is close to agreeing this Tuesday (28) the sale of a “significant portion” of the Dallas Mavericks. The majority owner of the Texan franchise acquired a share of the team in January 2000 for US$285 million, being one of those responsible for the success of the seventh most valuable franchise in the league.
According to Shams Charania of Stadium and The Athletic and Marc Stein of The Stein Line, Cuban is reportedly getting close to a deal with Miriam Adelson, widow of casino mogul Sheldon Adelson, for around $3. .5 billion. If the sale goes through, the businessman would share the stake in the Mavericks along with Adelson, but would continue to have full control of basketball operations.
The news had already been talked about since last week, when Christopher Palmeri and Gillian Tan, both from Bloomberg, reported that Adelson would be selling US$2 billion in shares in Las Vegas Sands Corp. for the family, with the profits from the negotiation, to acquire a stake in an unidentified sports team, stating that the agreement was already underway.
In January 2000, Cuban purchased a majority stake in the Mavericks for $285 million from Henry Ross Perot Jr., becoming majority owner of the franchise ever since. In October this year, Forbes magazine placed the Dallas team as the seventh most valuable franchise in the NBA, valued at US$4.5 billion. The magazine itself also disclosed the team owner’s assets, which are valued at US$6.2 billion.
In addition to the Mavericks, Cuban also has interests as co-owner of the audiovisual company 2929 Entertainment, co-owner of the Brondell toilet company, owner of the city of Mustang, Texas, and an investor in the United States’ Shark Tank program.
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