Recent reports have noted that the billionaire tech giant Mark Cuban is expected to sell a majority stake in the Dallas Mavericks franchise for $3.5 billion. The majority stake in the franchise is expected to be bought by Miriam Adelson who is currently in charge of the Las Vegas Sands Casinos. Despite selling a majority stake in the Dallas franchise, Cuban is expected to continue to retain his rights to control all basketball operations for the team.
In recent years, the Mavericks owner has been a huge advocate for legalizing sports betting in Texas, hence his prior interest in a potential partnership with the Las Vegas-based casino company. The Dallas-based billionaire has mentioned his vision for the future of the Mavericks and his hope that the team will acquire a new arena that will embody the characteristics of a Las Vegas resort and casino.
Mark Cuban said nearly a year ago his goal was to partner with Las Vegas Sands
— Dallas Texas TV (@DallasTexasTV) November 29, 2023
“When we build a new arena in Dallas, it will be in the middle of a resort and casino” pic.twitter.com/fpUPGXjPZn
Amidst these reports that Mark Cuban is in the process of selling a majority stake in the Dallas Mavericks, it is interesting to note how the legendary billionaire has completely transformed the team. Cuban had bought the Mavericks in January of 2000 for $285 million and has since turned the team around as the franchise’s valuation is currently around $4.5 billion. Dallas received this valuation in October 2023 from Forbes, causing the Mavericks to be the seventh most valuable NBA franchise. Prior to Cuban’s arrival in 2000, the team was continuously ranked among the NBA’s five least valuable franchises.
Mark Cuban purchased the Mavs for $285M in 2000
— Bleacher Report (@BleacherReport) November 29, 2023
Today he sold a majority stake for $3.5B 🤯 pic.twitter.com/ysXETZgF43
The Mavericks have flourished under Cuban’s ownership not only in monetary aspects but also with the team’s performance on the court. Prior to his purchase of the franchise, the team had not appeared in the playoffs for 10 consecutive years leading up to the year 2000. Within his very first year as the new owner of the team, the Dallas franchise clinched their very first playoff appearance when they faced the Utah Jazz. Following their first playoff appearance, the team went on to appear in the NBA playoffs for 12 consecutive seasons under Cuban’s ownership. Additionally, over the span of Cuban’s 23 years as the owner of the Dallas franchise, the team managed to make an appearance in the playoffs 18 times.
Perhaps the greatest success of the franchise came in 2011 when the Mavericks won their very first NBA Championship title. The team was led by the notable German power forward Dirk Nowitzki and point guard Jason Kidd. Not only did Nowitzki win his very first NBA title for himself and his team, but he also received his one and only NBA Finals MVP award.
June 12, 2011: The Dallas Mavericks win the franchise’s first NBA Title with a 4-2 series win over the Heat. pic.twitter.com/k17j1OTyNW
— This Day In Sports Clips (@TDISportsClips) June 13, 2022
In Mark’s first ten seasons with the team, the Mavericks won at least 50 games each season, which is a significant improvement considering the fact that the team had losing seasons in the ten years prior to Cuban’s ownership.
One of Cuban’s many significant achievements was with the German star Dirk Nowitzki. The legendary star had signed with the Dallas franchise in 1998, shortly before Cuban’s arrival. In the following years, the Dallas billionaire played a crucial role in ensuring that the star would spend his entire 21-year career in the city of Dallas. In previous interviews, the Dallas owner had mentioned that Dirk and Dallas were synonymous and that he was not shocked that the legend had decided to continue his stay with the Dallas franchise despite other teams taking interest in the player.
A similar approach can now be seen with Luka Dončić, as the Slovenian player joined the team in 2018 at just 19 years old. Since joining the franchise, Dončić has played a crucial role in leading the team to numerous wins. The Slovenian player currently has a contract with the team through the 2026-27 season and it would not come as a shock if Cuban attempts to keep the star on the team even longer.
With all of the changes and the evolution that the Dallas Mavericks underwent amidst Cuban’s ownership, it is crucial that the tech giant retains his rights in basketball operations following the sale, so that the team can continue improving.
