Big D has some big news in the sports world! Mark Cuban is selling the majority stake in the NBA’s Dallas Mavericks, but he’s keeping control of the team’s basketball operations. The billionaire is parting ways with his stake, valued at $3.5 billion, and selling it to Miriam Adelson. However, Cuban will still keep some shares in the group and remain in charge of the decision-making when it comes to basketball operations.
Miriam Adelson, the billionaire widow and heiress of Sheldon Adelson, has some exciting plans for the team. She is looking to build a new arena for the Mavs and possibly even a casino in Dallas if a gaming bill passes in Texas. She is reportedly offering $2 billion of her shares in Las Vegas Sands Group to make the purchase of the Mavs.
Under Cuban’s ownership, the Mavericks have been strong contenders in the NBA’s Western Conference, even winning the franchise’s first and only NBA championship in 2011.
There’s also more happening in Mark’s world, with him cohosting “TMZ’s Merry Elfin’ Christmas” special, premiering on Fox!
For more details on this breaking news, read the full article here.