Mark Cuban is apparently selling a majority stake of the Dallas Mavericks.
The Adelson family is currently in the process of buying a majority stake of the Mavericks, according to longtime NBA reporter Marc Stein and The Athletic’s Shams Charania. Cuban is expected to remain the controlling owner of the franchise despite selling a majority share of the team.
Miriam Adelson — who is the largest shareholder of the Las Vegas Sands — sold about $2 billion worth of stock in the company earlier Tuesday with the goal of buying into a sports team, according to CNBC. She is purchasing into the Mavericks at a $3.5 billion valuation, per Charania.
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The Mavericks were last valued by Forbes at about $4.5 billion, which made them the seventh-most valuable franchise in the league. By comparison, the Golden State Warriors topped that list at $7.7 billion. Adelson is the fifth-richest woman in the world, according to Forbes. She inherited about 56% of Las Vegas Sands when her husband, the company’s founder, died in 2021.
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