**Headline: Mark Cuban Sells Majority Stake in Dallas Mavericks; $3.5 Billion Deal Confirmed**

Headline: Mark Cuban Sells Majority Stake in Dallas Mavericks; $3.5 Billion Deal Confirmed

DALLAS, TX — December 1, 2023 (11:00 AM CST) — In a landmark transaction that reshapes the landscape of professional sports ownership, businessman and “Shark Tank” investor Mark Cuban has finalized the sale of a majority interest in the Dallas Mavericks.

Who: Mark Cuban, the billionaire entrepreneur and primary owner of the Mavericks since 2000, is the seller. The buyer is a consortium led by the Adelson and Dumont families, controlling shareholders of Las Vegas Sands Corporation.

What: The deal transfers approximately 77% of the franchise’s equity to the Adelson-Dumont group. Cuban will retain a minority stake, reportedly around 23%, and will continue to oversee basketball operations as the team’s Governor.

Where: The transaction was completed at the National Basketball Association (NBA) headquarters in New York City, following league approval by the Board of Governors. The franchise itself is based in Dallas, Texas.

When: The sale was officially announced Thursday evening. The agreement was reached in principle approximately one month prior, with final regulatory approvals secured this week.

Why: Cuban stated the move allows him to focus on long-term team performance and competitive spending, while aligning the franchise with partners possessing significant real estate and entertainment infrastructure expertise. Industry analysts note the deal values the Mavericks at a record-setting $3.5 billion, reflecting the soaring valuation of NBA franchises.

Background: Cuban purchased the Mavericks in 2000 for $285 million. Under his leadership, the team won the NBA Championship in 2011 and saw a dramatic increase in both market value and global brand recognition.