Mark Cuban sells $3.5 billion stake in Mavericks to Adelson family / News - Basketnews.com

Mark Cuban is selling a majority stake in the Dallas Mavericks to the Adelson family for $3.5 billion, maintaining control of basketball operations and having the final say.

Credit: AFP-Scanpix Credit AFP-Scanpix

Mark Cuban is selling a majority stake of the Dallas Mavericks to Miriam Adelson and casino tycoon Adelson family for a valuation in the range of $3.5 billion, according to Shams Charania of The Athletic.

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In one of the most unique setups in NBA history, Cuban keeps shares in the team and full control of basketball operations, per the same report.

This development follows Las Vegas Sands' announcement that Miriam Adelson is divesting $2 billion of her shares to acquire an undisclosed sports franchise.

Cuban originally purchased the Mavs in 2000 for $285 million. Forbes currently estimates his net worth at $6.2 billion, a substantial portion of which is derived from his 85% ownership stake in the Mavericks.

Miriam Adelson, the controlling shareholder of Las Vegas Sands Corp., was instrumental in developing the Venetian and Palazzo resorts. However, Las Vegas Sands now exclusively operates casinos in Macau and Singapore.

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