Mark Cuban's sale of Mavericks majority share approved by NBA teams / News - Basketnews.com

Mark Cuban, the owner of the Dallas Mavericks, is slated to sell his majority stake in the team to the Adelson and Dumont families after a decision by NBA team owners.

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Dallas Mavericks owner Mark Cuban's sale of his majority stake in the club was approved by NBA team owners, according to Marc Stein.

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Cuban had previously revealed that he was selling his stake to the Adelson and Dumont families of the Las Vegas Sands Corporation.

After the deal is realized, the chief operating officer of Sands Corp., Patrick Dumont, will displace Cuban as the Mavericks governor with a 73% stake, told Stein.

On the other side of the aisle, Cuban will become the alternate governor with a 27% stake.

Stein also revealed that the team will come to be valued at $4-to-$5 billion, which includes funds to be directed toward a new arena.

Cuban has been the majority stakeholder at the Mavericks since 2000.

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