Follow usThe Adelson family is very close to becoming the Dallas Mavericks majority owner. However, Mark Cuban would keep his role as governor of the organization and be in control of all basketball decisions.
The deal would be in the range of 3.5 billion dollars, and it will take months for the NBA to give a green light.
The Dallas Mavericks deal is fascinating.
Mark Cuban turns $285 million into $3.5 billion & maintains control — an unprecedented move in sports.
In return, the Adelson family gets a discount on an asset they’ll own for a long time.
Feels like a win-win.pic.twitter.com/WCctAZSf9A
— Joe Pompliano (@JoePompliano) November 29, 2023
To take the NBA franchise from Texas, the Adelson family is selling 2 billion dollars in stock in the Las Vegas Sands Corp. If they decided to use all of the money from the stocks, it would mean that they would buy 57% of the Mavs based on the 3.5 billion dollar valuation of the franchise.
For a sale to happen in the National Basketball League, the new owners must be vetted by the NBA’s league’s board of governors, as that probably happens for several weeks.
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