Mark Cuban is holding onto about 25 percent ownership of the Dallas Mavericks after selling a portion to the Adelson and Dumont families. Despite the Mavericks being appraised by Sportico at $4.03 billion, Cuban sold the stake at a valuation of $3.5 billion.
The new ownership group aims to influence Texas legislation to legalize gambling within the state. Their ambitious plans include constructing a new arena in Dallas, integrated with a hotel and casino.
In an unconventional arrangement, Cuban is set to continue overseeing the basketball operations of the franchise indefinitely as part of the deal.
Mark Cuban To Retain 25 Percent Stake In Mavericks Post-Sale https://t.co/VwVIP29owy
— RealGM (@RealGM) December 13, 2023
