Mark Cuban reportedly has no plans to exit the basketball side of business despite selling a majority stake of the Mavericks to the Adelson family. Appearing on the Brian Windhorst podcast, ESPN’s Tim MacMahon pointed out that the deal is a big win for Cuban, who gets to both cash in on the franchise and maintain some say in basketball operations.
“I don’t know exactly what the language is in the purchase agreement, but one thing I have been told, and the exact word I heard is Cuban will have basketball operations for, quote, ‘forevermore,’” MacMahon said (hat tip to RealGM). “I assume that is agreed to in writing.”
It was reported Tuesday that the Adelson family is in the process of buying a major share in the franchise. Cuban is selling the majority stake to billionaire Miriam Adelson – widow of late businessman Sheldon Adelson – and the Adelson family for a valuation in the range of $3.5 billion. Cuban bought the Mavericks for $285MM in 2000.
We have more from the Mavericks:
- Miriam Adelson is one of the richest women in the world and is adding Mavericks owner to a résumé that includes casino mogul, GOP power broker and United States and Israel newspaper owner, as explored by AP’s Ken Ritter. Adelson is selling $2 billion in stock of casino company Las Vegas Sands Corp., but will still be a majority shareholder. The $3.5 billion purchase of the Mavericks would make Adelson one of just a handful of female U.S. professional sports franchise owners. According to Ritter, her net worth of $32 billion makes her the fifth-richest woman in the U.S. and the 35th-richest billionaire in the world. Adelson has spoken highly of Cuban in the past. “A good person with good values, though he is totally opposite of us in his political views,” Adelson said.
- Mavericks head coach Jason Kidd took issue with the tone of questions he received from reporters following Dallas’s Tuesday game against the Rockets (Twitter link via HoopsHype). “People will read your positive s–t,” Kidd said. “You don’t always have to be negative, right? Like the world’s already negative enough. So let’s see some positive stuff on some positive people that are playing, doing their job on a nightly basis.“
- Luka Doncic is missing his first game of the season for the birth of his daughter, Gabriela, who was announced to the world on Friday, according to The Dallas Morning News. Doncic is being designated as out for personal reasons for Friday’s game against the Grizzlies. Guard Dante Exum is also out for personal reasons for that matchup.