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Mark Cuban Sells Majority Stake in Mavericks

Mark Cuban has been the Dallas Mavericks majority owner since 2000.

NBA: Portland Trail Blazers at Dallas Mavericks Jerome Miron-USA TODAY Sports

Dallas Mavericks owner Mark Cuban is selling a majority stake in the team to Miriam Adelson according to The Athletic’s Shams Charania.

Sources: Mark Cuban is selling a majority stake of the Dallas Mavericks to Miriam Adelson and casino tycoon Adelson family for valuation in range of $3.5 billion. In one of most unique setups in NBA history, Cuban keeps shares in team and full control of basketball operations.

Cuban has owned the Mavericks since 2000 when he bought a majority share for $285 million. Despite selling his majority stake in the team, Cuban will retain some of his shares and will continue being in charge of basketball operations for the Mavericks.

Adelson is the widow of Sheldon Adelson, the founder of Las Vegas Sands Corporation. Adelson sold $2 billion worth of stock in Las Vegas Sands Corporation in order to finance the sale according to Mike Vorkunov of The Athletic.