Dallas Mavericks chairman Mark Cuban, who purchased the franchise for $200 million in 2000, has reportedly sold a “significant stake” in the team.
The news was first reported by league insider Marc Stein, who added that Cuban would “continue to retain operational control” of the Mavericks. The longtime majority shareholder will reportedly sell ownership of the franchise to the Adelson family, per reports.
Shams Charania noted that based on the sale, the valuation of the franchise is now $3.5 billion. Charania added that this is “one of the most unique setups” in league history because Cuban will retain his shares in the organization and he will also maintain “full control and final say” when it comes to basketball operations.
Cuban, who also announced on Monday that he will leave ABC’s Shark Tank next year after spending more than a decade with the program, has reportedly made a very surprising deal to sell the Mavericks.
Now, fans are curious about what will come next for the incredibly well-known businessman and TV personality.