By Johnny Askounis/ email@example.com
Dallas Mavericks superstar Luka Doncic will soon have a new team owner. However, Mark Cuban will stick around retaining control of basketball operations.
Cuban, 65, reached a deal with the family of Las Vegas billionaire Miriam Adelson to sell a significant stake in the franchise, according to multiple reports. NBA insider Marc Stein revealed the intentions of the Adelson family and the plan regarding Cuban on Tuesday evening.
The American businessman purchased a majority stake in the Mavs for 285 million dollars in 2000. The deal with the Adelson family reportedly ranges around 3.5 billion dollars, shaping a healthy profit. According to the most recent estimation of Forbes, the franchise based in Dallas is valued at 4.5 billion dollars, the seventh-highest in the NBA.
Pending the necessary approval from the NBA Board of Governors, Cuban will be left with a minor ownership stake, besides remaining governor of the team and making the final decisions on the basketball business. Barring an unexpected setback, the deal will take effect within the next few weeks.
Cuban’s ownership stretching over two decades attracted media attention due to numerous controversial comments, fines from the NBA, and more. The deal seems to allow him to continue in a similar role, despite selling the majority of the franchise.
Amid the developments, the team coached by Jason Kidd currently sits at 11-6 in the 2023-24 NBA Regular Season, two games behind the leaders of the Western Conference standings, Minnesota Timberwolves.
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