Mark Cuban Embraces Sale of Mavericks Stake
Mark Cuban expresses enthusiasm about the sale of the controlling interest of the Dallas Mavericks to the Las Vegas Sands casino company.
Cuban Praises Partnership
Mark Cuban, owner of the Dallas Mavericks, has expressed his excitement about the recent sale of the team's controlling interest to the families who run the Las Vegas Sands casino company. The NBA board of governors approved the deal, which allows Cuban to continue running the franchise's basketball operations. The purchase is valued at over $4 billion.
"Nothing's really changed except my bank account," Cuban said. He believes that this partnership will enhance the team's ability to compete both on and off the court. With the new owners' resources and their plan to build a state-of-the-art arena, the Mavericks are in a much better position to succeed.
New Owners and Responsibilities
The families of Miriam Adelson and Sivan and Patrick Dumont will become the Mavericks' majority owners. Miriam Adelson, the widow of casino magnate Sheldon Adelson, is excited to be a part of the Dallas community and looks forward to bringing her commitment to empowering team members and engaging with the local community to the Mavericks.
Cuban will maintain a 27% stake in the team's ownership and will continue to serve as the team's alternate governor. While he will still be involved in basketball operations, Patrick Dumont will have the final say as the team's governor. Cuban expects Dumont and Adelson to focus on the franchise's business interests, especially the plans to build a new arena.
Gambling in Texas
One of the challenges the new ownership group may face is legalizing gambling in Texas. While gambling is not currently legal in the state, Miriam Adelson has been a vocal advocate for bringing casino gambling to Texas. Cuban believes that legalizing gambling would be beneficial to the state and hopes to be involved in lobbying efforts to make it happen.
The sale of the Mavericks was important to Cuban because he wanted partners who could help increase the team's revenue base. He believes that the new ownership group's expertise and resources will allow the franchise to compete at a higher level and ensure long-term success.
