Dallas Mavericks Owner to Sell Team to Las Vegas Sands Leadership
Mark Cuban, the owner of the basketball team Dallas Mavericks, has decided to sell the controlling stake of the club to the casino magnate Sheldon Adelson’s family for $3.5 billion. However, Cuban will maintain control over the team's basketball operations.
Miriam Adelson, the widow of casino magnate Sheldon Adelson, previously announced that she was selling shares of her company for $2 billion in order to buy a professional sports team. She did not specify which sport or team was being considered.
According to Forbes, the Dallas Mavericks are valued at $4.5 billion, making them the seventh most expensive team in the American basketball league. Miriam Adelson owns 52% of Las Vegas Sands, which manages a chain of casino-hotels in Singapore and Macau.
Cuban became the owner of the Mavericks in 2000, purchasing the club for $285 million.
29 November 2023, 23:00
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