Source: Fortune
Summary
Mark Cuban sold his majority stake in the Dallas Mavericks to the Adelson family for $3.5 billion in 2023, but now regrets the decision. Cuban, who bought the team in 2000 for $285 million, initially said the sale would not change much, but now admits he made mistakes in the process. He retains a 27% minority stake, but the Adelson family can purchase an additional 20% of the franchise within four years, potentially reducing Cuban’s stake to 7%. Cuban has expressed interest in buying back the team, but the Adelson family plans to buy the majority of his remaining stake.
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Mark Cuban’s sale of the Dallas Mavericks to the Adelson family was a $3.5 billion deal, but he now regrets who he sold to. Cuban’s 20-year run as owner was marked by a championship win in 2011 and the drafting of Luka Dončić in 2022. However, Cuban was edged out of decision-making by then and sold his majority stake in 2023. Cuban still holds 27% of the team, but the Adelson family plans to buy more. The deal that went wrong now has Cuban looking for a way to buy back in.
Cuban’s regret is a reminder that even billionaires can make mistakes in the high-stakes world of professional sports.
Author: Evan Null
