Mark Cuban's Sale of Mavericks to Adelson Brings Casino Dreams Closer
Mark Cuban is selling a majority stake of the Dallas Mavericks to the Adelson and Dumont families, who head the Las Vegas Sands Corp. The sale agreement allows Cuban to continue operating the franchise while relinquishing his majority stakeholder and governor statuses. The families aim to close the sale by year-end pending NBA approval. The deal combines the Sands' real estate, entertainment venue, and casino gambling expertise with Cuban's ownership track record and public influence, providing the Mavericks with "deep pockets" to compete with wealthier NBA franchises. The sale marks the first time non-North Texans will be the principal owners of the Mavericks.