Nothing stands in the way of selling the majority shares in the Dallas Mavericks. The National Basketball Association (NBA) approved the multi-billion dollar deal on Wednesday, which is expected to be completed later this week.
According to media reports, Mavs club owner Mark Cuban and the Adelson family of entrepreneurs agreed on a price of 3.5 billion US dollars (approx. 3.2 billion euros). This is the second most expensive purchase price for an NBA team; in 2023 the Phoenix Suns had already changed hands for four billion dollars.
The operators of the Las Vegas Sands casino resort will formally take control of the NBA franchise from Dallas. As the NBA announced, Patrick Dumont, COO of Las Vegas Sands, will be listed as Mavericks owner (“Governor”) in the future.
Cuban, a passionate basketball fan and friend of former Mavericks superstar Dirk Nowitzki, acquired the majority stake in January 2000 for $285 million.
The 65-year-old will reportedly retain operational control of the team. The Mavericks won their only NBA championship to date in 2011, led by Nowitzki.
2023-12-27 16:26:12
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