Multi-billionaire Mark Cuban is making headlines with his generous decision to give out $35 million worth of bonuses to Dallas Mavericks employees, according to an internal memo shared Friday by ESPN’s Tim MacMahon.
Cuban just sold his majority stake in the Mavericks. His sale of his majority interest in the franchise was to the families running the Las Vegas Sands casino company, a deal valued at an impressive $3.5 billion, according to Deadline. This sale marks a new chapter for the Mavericks, a teamtwhich has grown in prestige and success under Cuban’s ownership.
An email from Mark Cuban to Mavs employees informing them of a plan to pay approximately $35M in bonuses in the wake of selling a majority stake of the franchise: pic.twitter.com/omoamjRA1H
— Tim MacMahon (@espn_macmahon) January 5, 2024
In a heartfelt gesture of gratitude, Cuban addressed his employees with the news of the bonus, recognizing their contributions making the Mavericks a remarkable organization. “As a thank you for all your hard work making the Mavs an amazing organization, each of you will be receiving a bonus from myself, and the Adelson and Dumont families,” Cuban’s message to employees read, as revealed in an email obtained by ESPN‘s MacMahon. (RELATED:Google Hands Out Massive Raises To Top Execs — But Won’t Increase Workers’ Salaries)
“In total, we will be paying out approximately $35 plus Million Dollars in bonuses to you all. To calculate your bonus, we used a framework that took into consideration how long you have worked for the Mavs. You will receive your bonus in the very near future,” the memo noted.