Mavericks Owner Mark Cuban To Sell Majority Stake To Billionaire Miriam Adelson, Retaining Control of Team

Photo: Instagram/Mark Cuban

Dallas Mavericks owner Mark Cuban is reportedly selling a majority stake in the franchise to billionaire Miriam Adelson, the largest shareholder of Las Vegas Sands. 

Despite the sale, Cuban is set to maintain control of the team, according to NBA insiders Marc Stein and Shams Charania.

Miriam Adelson, known for her vast wealth and recent stock sale of approximately $2 billion in Las Vegas Sands, is entering the world of professional sports by acquiring a significant share of the Mavericks.

Photo: Instagram/Mark Cuban

The deal values the team at $3.5 billion, slightly below Forbes' recent valuation of $4.5 billion, ranking them as the seventh-most valuable NBA franchise. Cuban's strategic move aligns with his ambition to relocate the Mavericks to a new arena, ideally situated within a resort and casino. 

This plan may involve a partnership with Las Vegas Sands, the world's largest casino company. However, the challenge lies in Texas' current legal stance on sports betting and casinos.

Since Mark Cuban's initial purchase of the Mavericks in 2000 for $285 million, the team has experienced notable success, notably winning the NBA title in 2011. The Mavericks' current season, the third under head coach Jason Kidd, holds promise with a 10-6 record.

In a surprising announcement, Cuban revealed his intention to depart from the popular show "Shark Tank" after its 16th season next year.

Having been a mainstay since 2011, Cuban's role as a "shark" on CNBC's entrepreneurial series marks an end to a notable chapter in his television career.

Read Next: James Harden Makes NBA History With 1,011th Career Game In Nuggets-Clippers Match

Source: Yahoo Sports 

Comments

Post a Comment

Trending Now

Mike Tyson Explains Viral Jake Paul Slap: 'He Stepped On My Foot'

Image
Photo: Mike Tyson, Jake Paul / Instagram   Jake Paul got a sharp reminder Thursday night: don’t mess with Mike Tyson . The two fighters met at the weigh-in for their big showdown at AT&T Stadium on Friday. Things heated up when Tyson, 58, slapped Paul on stage, sparking a frenzy online. Fans wondered what caused the boxing legend to lose his cool. Tyson later explained it was because Paul stepped on his foot — and he wasn’t happy about it. Photo: Mike Tyson / Instagram   "I was in my socks, and he had shoes on," Tyson told the New York Post . "He stepped on my toe. At first, I thought it was an accident, but now I think it might have been on purpose." Video of the moment supports Tyson’s claim. "It hurt a lot," he added. "I had to hit back." Mike Tyson Slaps Jake Paul During Their Final Face Off, Before Their Fight This Friday.😭 pic.twitter.com/Hkfch5lo7o — Poetik Flakko (@FlakkoPoetik) November 15, 2024 This fight marks Tyson’s retu
Read More

Katie Taylor Suspended After Controversial Win Over Amanda Serrano

Image
Photo: Katie Taylor / Instagram   Katie Taylor will be suspended for at least 30 days after her controversial victory over Amanda Serrano on Friday night. The fight took place at the AT&T Stadium in Texas, where Taylor defended her light-welterweight titles. The bout went the full 10 rounds, with Taylor winning by unanimous decision. The judges scored it 95-94 in her favor, but the match wasn’t without controversy. Serrano suffered a bad cut from a head clash earlier in the fight, and Taylor was later penalized for a headbutt in the eighth round. After the fight, Serrano expressed her frustration. “I knew when it went to the judges it would be shady,” she said. “She kept headbutting me, but it’s not new. She did the same with Chantelle Cameron.” Photo: Katie Taylor / Instagram   Taylor denied any foul play, saying, “The headbutt was accidental. This is a tough sport, and things like that happen. I’m not a dirty fighter.” Both fighters will be suspended for a mandatory rest perio
Read More

Steph Curry Wants Caitlin Clark, Klay Thompson In All-Star Three-Point Contest

Image
Photo: Stephen Curry, Caitlin Clark / Instagram   The popular “NBA vs. WNBA” three-point shootout could be back with some exciting new faces at the 2025 NBA All-Star Weekend. According to ESPN’s Shams Charania, Golden State Warriors star Steph Curry and New York Liberty’s Sabrina Ionescu are planning to bring their hit three-point contest to the All-Star Weekend in February. This time, they hope to include Dallas Mavericks guard Klay Thompson and Indiana Fever star Caitlin Clark . "Sources tell me Curry and Ionescu are discussing a return of the shootout," Charania said. "There are plans to include Klay Thompson and Caitlin Clark in the competition this year." Photo: Stephen Curry / Instagram   Adding Thompson and Clark would make the event even bigger. Thompson, now with the Mavericks , is a legendary shooter and was once Curry’s teammate on the Warriors. Clark, the 2024 WNBA Rookie of the Year, made history by hitting 122 three-pointers in her first season—th
Read More

Dwight Howard Wants To Join Thunder After Chet Holmgren’s Injury

Image
Photo: Dwight Howard / Instagram   Dwight Howard is ready for an NBA comeback. After being eliminated from Dancing With the Stars  just two days ago, the 38-year-old made a pitch to join the Oklahoma City Thunder. Howard, who last played in the NBA with the Los Angeles Lakers during the 2021-22 season, has been playing in Taiwan’s T1 League . Now, he says he’s ready to return and help the Thunder while star center Chet Holmgren recovers from a hip injury. Holmgren is expected to miss 8-10 weeks. “OKC, ya boy is ready,” Howard said on KG Certified . “Y’all need a big. Y’all need a vet. I’ve got energy and nothing else to do after dancing. … I’d go to OKC right now. Two-year [deal], let me finish out. We get y’all a championship, maybe another one.” Photo: Dwight Howard / Instagram   Howard also reminded fans that he won an NBA title with Alex Caruso in 2020, who now plays for the Thunder. Oklahoma City is seen as a strong contender this season, and Howard believes he could help the
Read More

Ryan Garcia Plans Return To Boxing In December, Eyes Fight With Jake Paul

Image
Photo: Ryan Garcia / Instagram   Boxing star Ryan Garcia is set to return to the ring on December 30 for an exhibition fight in Japan. This will be his first match since being suspended for a year after testing positive for a banned substance earlier this year. Garcia, known as "King Ry," will face former kickboxing champion Rukiya Anpo. The fight will be broadcast as a pay-per-view event on Fanmio for $49.99. “I’m excited to knock Anpo out,” Garcia said. “He tried to take down a legend like Manny Pacquiao , and I’m going to teach him some respect.” Photo: Ryan Garcia / Instagram   Anpo recently fought  Pacquiao  to a draw in an exhibition match, but Garcia claims he’ll finish the job in just three rounds. Even before stepping into the ring with Anpo, Garcia has his sights set on Jake Paul. Paul, who recently won a controversial decision against boxing legend Mike Tyson , is one of the biggest names in crossover boxing. “I’ve been quiet, but here’s the plan,” Garcia sh
Read More

Evander Holyfield Reveals The Best Fighter He Ever Faced

Image
Photo: Instagram/Evander Holyfield Boxing legend Evander Holyfield has faced some of the sport's biggest names, and he has now revealed who he thinks was the best of them all. Holyfield, one of the most decorated boxers ever, ended his amateur career with an Olympic bronze medal. He then became a standout talent in the cruiserweight division before moving up to become a four-time heavyweight champion, despite being smaller than many of his opponents. Until Oleksandr Usyk matched his feat, Holyfield was the only man to achieve undisputed titles in both cruiserweight and heavyweight. Holyfield is well known for his infamous fight with Mike Tyson , where Tyson bit his ear, and for facing other legends like Lennox Lewis and George Foreman. But in an interview with Ring Magazine’s ‘Best I Faced’ series, Holyfield named Riddick Bowe as the greatest opponent he ever fought. Photo: Instagram/Evander Holyfield "I would say Bowe. I had three fights with Bowe. He was very competitive,
Read More

Ye Faces Lawsuit Over Alleged Copyright Theft In 'Vultures 1'

Image
Photo: Ye / Instagram   Rapper Ye (formerly Kanye West) is being sued by a group of Memphis rappers who claim he and Ty Dolla $ign illegally used a sample in their song “Fuk Sumn” without permission. The lawsuit accuses the two of “brazen” copyright infringement, saying they took parts of a 1994 track called "Drink a Yak (Part 2)” by Criminal Manne, DJ Squeeky, and the late Kilo G. The lawsuit says that Ye’s team tried to get permission to use the sample but kept using it even after talks broke down. The rappers claim they contacted Ye’s team many times, but nothing was resolved, forcing them to take legal action. The plaintiffs say that the use of the sample in “Fuk” is obvious, with lines from the original track clearly heard in Ye’s song. One part includes a lyric from Criminal Manne, and another features a line by Kilo G. Photo: Ye / Instagram   This lawsuit is just the latest in a series of similar cases against Ye for using samples without proper licenses. Since 2019, Ye ha
Read More

Prosecutors Say Sean ‘Diddy’ Combs Is Trying To Influence Witnesses And The Jury While In Jail

Image
Photo: Sean 'Diddy' Combs / Instagram   Prosecutors allege that Sean 'Diddy' Combs has been breaking federal detention rules to influence witnesses and the jury pool in his ongoing sex trafficking case. According to a new court filing, Combs used other inmates' phone accounts to avoid monitoring and paid them through intermediaries, which is against jail rules. The music mogul, who is being held at the Metropolitan Detention Center in Brooklyn, is accused of making three-way calls to unapproved contacts and sending hundreds of unauthorized text messages. Prosecutors claim he is attempting to silence accusers and sway testimony in his favor. Combs, who has pleaded not guilty, faces charges of sex trafficking, racketeering conspiracy, and related crimes. Prosecutors also accuse him of using social media to influence public opinion, including directing family members to post videos to gain sympathy and manipulate potential jurors. Photo: Sean 'Diddy' Combs /
Read More

Jon Jones Predicts Gable Steveson Will Become UFC Champion

Image
Photo: Jon Jones / Instagram   Jon Jones , the UFC heavyweight champion, has named Gable Steveson as the next big star in MMA. After successfully defending his title at UFC 309 by knocking out Stipe Miocic , Jones spoke about Steveson, who is still new to the sport but has impressed many, including Jones himself. Jones, who was training with Steveson before UFC 309, praised the Olympic gold medalist wrestler's toughness and potential. "Gable has everything it takes," said Jones. "When we were practicing, he stepped in right away when one of my teammates got hurt. He’s fearless, even when facing tough situations." Jones went on to explain how Steveson handled being kneed in the face during a sparring session, showing no fear. "He ate it, and it looked like a kid with a new toy," Jones recalled. "He’s going to be scary. Once he learns boxing and jiu-jitsu, it’s not a question of if he’ll be a champion, but when." Photo: Jon Jones / Instagram  
Read More

Jake Paul Challenges Canelo Alvarez: “He Just Wants Money”

Image
Photo: Jake Paul, Canelo Alvarez / Instagram   YouTuber-turned-boxer Jake Paul is once again calling out Mexican boxing star Canelo Alvarez , claiming he’s confident the fight will happen. Paul believes a showdown with Canelo would be a huge event, both for the sport and financially. Paul, who has built a reputation as one of the most polarizing figures in boxing, shared his thoughts after his recent victory over Mike Tyson in a highly hyped match. Despite the event's financial success, many fans were disappointed with the fight. Now, Paul says his focus is on climbing the boxing ranks and taking on the world’s best, with Canelo being his ultimate goal. “I’ve been asking for the fight for three years,” Paul said on his YouTube show, BS w/ Jake Paul . “Canelo doesn’t care about whether I’m a risk or not. He’s just thinking about the money. That’s why I think the fight will happen.” Photo: Jake Paul / Instagram Paul, who wants to fight Canelo at 200 pounds in the cruiserweight di
Read More