Mark Cuban Sells Majority Stake in Dallas Mavericks for $3.5 Billion: What’s Next?

This is THE big break at the start of the night, proposed by Shams Charania: Mark Cuban sold a large part of his shares in the Dallas Mavericks, for an estimated amount of 3.5 billion dollars! He now becomes a minority owner, but retains all his functions in terms of controlling basketball operations. Amazing !

Wow! Historic owner of the Mavericks (since 2000), Mark Cuban is selling a majority of his shares in the franchise! The buyers are Miriam Adelson and the Adelson group, specializing in gambling and real estate. The amount of the transaction is estimated at $3.5 billion, according to Shams Charania who reported the information.

WOW. Wait, what, eh, what, what?

— TrashTalk (@TrashTalk_fr) November 28, 2023

For Dallas, it’s the end of an era. That of Mark Cuban majority owner. A – very – strong character on the edge of the field, and above all a sublime NBA title in 2011. Note the tidy capital gain made on the sale: purchased for 285 million in 2000, the Mavericks have just brought in 3.3 billion on Cuban’s bank account. Enough to do some little splurges for Christmas. Note the unique nature of this transaction: Mark Cuban remains in control of everything related to basketball in Dallas. Waiting to find a new face among the new owners? Maybe… in any case, Cuban can choose to leave as he sees fit from now on. The situation is unpredictable from now on.

2 months ago, the last “public” valuation of the Dallas Mavericks franchise was around $4.5 billion.

Mark Cuban apparently sold for $3.5 billion, so he would in effect now be a minority owner of the Mavs.

— TrashTalk (@TrashTalk_fr) November 28, 2023

It’s a striking move, rarely seen and difficult to project into the future.

Mark Cuban sold the majority of his shares in the Mavs… BUT he retains complete authority over the franchise’s basketball operations.

Anything can happen in the coming months: he stays as he leaves.

— TrashTalk (@TrashTalk_fr) November 28, 2023

What we can be sure of, however: this operation is not carried out on a whim after one too many beers. Often among the first to speak out on the political situation within the sphere of franchise owners in the NBA, support of the Democratic Party, Cuban has – since 2015 – mentioned in multiple declarations his desire to get into politics. Embarking on this path with capital of more than 3 billion in his pocket, and with the approach of presidential elections which will take place in a year, is a real option for him. As of today, the relationship between Cuban and the Mavs therefore enters the unknown. An unknown which should nevertheless become clearer fairly quickly, given the extent of the change awaiting the franchise.

We are also a few months away from new American elections, and Mark Cuban does not hide his political desires and desires to contribute on a larger scale to American society.

I don’t think such a sale by such a brilliant business guy would be done without a plan behind it.

— TrashTalk (@TrashTalk_fr) November 29, 2023

On a sporting level, the arrival of a new boss can also reshuffle a lot of cards. Even if Mark Cuban remains at the helm, perhaps Miriam Adelson will want to send the mesh galore to strengthen the group. We can therefore expect potential free agencies very aggressive in the future.

To watch with the sale of Mark Cuban: the aggressiveness of Nico Harrison in management.

If the guy says “you have to be ultra aggressive on the free agent market” to the new owners: if they are keen, they will spend badly.

It’s not just Cuban’s money anymore.

— TrashTalk (@TrashTalk_fr) November 29, 2023

A page is turning in Dallas. A page made of shouting, victories, Slovenia, Germany and above all happy history.

Source : @ShamsCharania

2023-11-29 02:12:00
#Mark #Cuban #longer #majority #owner #Mavericks


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