Mark Cuban Divests Majority Share in Dallas Mavericks NBA

– Mark Cuban is selling his majority stake in the NBA’s Dallas Mavericks to Miriam Adelson, billionaire widow and heiress of Sheldon Adelson and his Las Vegas casino empire, the stake is reportedly valued at $3.5 billion. Cuban initially bought the team in 2000 for $285 million.
– Even though he’s selling his majority stake, Cuban will still retain some shares in the team and will be the lead decision-maker when it comes to basketball operations.
– Adelson has plans to build a new arena for the Mavericks and potentially a casino in Dallas if a gambling bill passes in Texas. She is selling $2 billion of her shares in Las Vegas Sands Group to facilitate the Mavs purchase.

Mark Cuban Sells Majority Stake in Dallas Mavericks

In a significant move, Mark Cuban is selling his dominant stake in the NBA’s Dallas Mavericks to billionaire Miriam Adelson.

Cuban Retains Basketball Operations Control

Despite selling a stake valued at $3.5 billion, Cuban will retain some shares and will continue to lead basketball operations decisions.

Massive ROI for Cuban

The team, initially bought by Cuban in 2000 for $285 million, will bring him an impressive return on investment.

Miriam Adelson: The New Owner

Adelson, the billionaire widow and heiress of Sheldon Adelson‘s Las Vegas casino empire, is listed as the fifth wealthiest woman in the world by Forbes.

Adelson’s Future Plans for the Mavs

Sources reveal Adelson’s plans to build a new arena for the Mavericks and a potential casino in Dallas, should a gambling bill pass in Texas. She’s reportedly liquidating $2 billion of her Las Vegas Sands Group shares to fund the purchase.

Mavericks’ Success Under Cuban

Under Cuban, the Mavericks have consistently been strong contenders in the NBA Western Conference, earning their first and sole NBA championship in 2011 against LeBron James and the Miami Heat.

Cuban’s Departure from “Shark Tank”

Mark Cuban also recently announced he’s exiting ABC’s “Shark Tank” after the upcoming 16th season.

Mark’s Upcoming Special

Cuban is also co-hosting the “TMZ’s Merry Elfin’ Christmas” special, premiering Dec. 5th in primetime on Fox.

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