Hmm… We have some interesting developments going on in Dallas right now.
Mark Owner is selling a majority of the Dallas Mavericks to the Adelson family, according to veteran NBA reporter Marc Stein and Shams Charania of The Athletic. However, despite selling a majority percentage of the team, he will stay on as the controlling owner of the organization. (RELATED: ‘Halloween Was Two Weeks Ago!’: Charles Barkley Hilariously Roasts Utah Jazz’s Jordan Clark For Wearing Quaker Outfit)
Miriam Adelson, who is Las Vegas Sands’ biggest shareholder, sold off around a whopping $2 billion of stock in the brand Tuesday, with the Sin City tycoon having the goal of purchasing a sports franchise, according to CNBC. Charania is reporting that Adelson is buying the Mavericks at a $3.5 billion valuation.
In 2022, Cuban said that he’s hoping to relocate the Mavs to a new arena that would happen to be “in the middle of a resort and casino,” and also openly said that he wanted to partner with Las Vegas Sands, according to Forbes. Las Vegas Sands is the biggest casino company on the planet, according to Yahoo Sports. As far as moving to Sin City, Cuban’s partnership with both Adelson and Sands is a huge step forward to get it done
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
The Adelson family is in the process of buying a significant stake in the Dallas Mavericks, @TheSteinLine has learned.
League sources say Mark Cuban would continue to retain operational control of the team.
More to come on this breaking news via https://t.co/A6ycVmnrjq
— Marc Stein (@TheSteinLine) November 28, 2023
The Mavericks to Las Vegas…? I can dig it!