BREAKING: Mark Cuban Selling Majority Stake In Dallas Mavericks To Billionaire Casino Owner

Mark Cuban has been making major waves lately.

The billionaire businessman revealed on Monday that he will not be returning to the ABC series after season 16. He told former NBA players Matt Barnes and Stephen Jackson that he feels “it’s time” to leave the series after first appearing as a guest in season 2 and joining full-time in the third season.

On Tuesday, it was reported that the Dallas Mavericks owner is selling a majority stake in the team to billionaire Miriam Adelson, sources told The Athletic’s Shams Charania.

Mark Cuban in Mavs shirtDALLAS, TEXAS – MARCH 22: Dallas Mavericks owner Mark Cuban reacts during a timeout in the game against the Golden State Warriors at American Airlines Center on March 22, 2023 in Dallas, Texas. (Photo by Tim Heitman/Getty Images)
The deal reportedly values the NBA franchise at approximately $3.5 billion. Despite the sale, Cuban will retain his shares in the franchise as well as control of all basketball operations.

Adelson is the widow of casino and resort tycoon Sheldon Adelson, who founded Las Vegas Sands Corporation in the 1980s. In order to go through with the purchase of the Mavs, Adelson sold $2 billion worth of stock in the company on Tuesday, courtesy of Mike Vorkunov of The Athletic.

The 65-year-old Cuban has owned the Mavericks since 2000. He paid $285 million for a majority stake from Henry Ross Perot Jr.

Under Cuban, Dallas won its first and only NBA championship in 2011. The Mavericks have made the playoffs in all but five seasons.

The Mavericks are currently 10-6 this season, the third under head coach Jason Kidd.

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