Mark Cuban Wins NBA’s Approval To Sell Dallas Mavericks To Las Vegas Casino Family
deadline.comBuy low, sell high. Marl Cuban just proved himself a master of that tried-and-true investment mantra. The Shark Tank mainstay is not only swimming away from that show after 14 successful seasons, he has now received approval from the NBA Board of Governors to sell the majority stake in his beloved Dallas Mavericks.
Cuban bought the Mavericks for $285 million in 2000 is now selling the team for about $3.5 billion. That’s a cool $3-plus billion over the purchase price and Cuban will reportedly retain 27% of the team and may well retain control of basketball operations.
A pretty sweet deal. Per Yahoo Sports: Cuban is selling at a time franchise values are rising (in part based on a new national television broadcast deal starting in 2025 [that is] expected to double that national revenue) and likely expansion will bring a flood of cash to teams’ bottom lines (through expansion fees).
Cuban has expressed concern in the past about the broadcast deal after this one (likely after 2030) and expresses concern that the sports broadcast rights bubble could burst.
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