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Dallas Mavericks Facing Change of Ownership as Mark Cuban Seeks to Sell Shares

dallas – The NBA club Dallas Mavericks is facing a change of ownership. Mavericks owner Mark Cuban wants to sell most of his shares for $3.5 billion, the AP news agency reported, citing a person familiar with the matter.

The new owner of the club will be the doctor Miriam Adelson, widow of the casino owner Sheldon Adelson. Cuban will retain administrative control of the basketball department. The vetting process for new owners in the NBA typically takes at least several weeks. Approval must then be granted by the league’s control council.

The 65-year-old Cuban bought the Mavs in 2000. Dallas was one of the worst teams in professional sports in the 1990s, but developed into one of the best under Cuban. The Mavericks, who won their only championship in 2011 with Dirk Nowitzki at the helm, are worth $4.5 billion, according to Forbes magazine.

2023-11-29 03:35:58
#NBA #Dallas #Mavericks #ownership #change

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