Dallas Mavericks franchise sold to casino group

By Le Figaro with AFP

Published ,

Mark Cuban, owner of the Dallas Mavericks Jerome Miron / REUTERS

Mark Cuban, close to finalizing the sale of his majority stake in the NBA franchise to the Las Vegas Sands Corporatio casinos

The owner of the Dallas MavericksMark Cuban, is on the verge of finalizing the sale of his majority stake in the NBA franchise to the families who run the Las Vegas Sands Corporation casino group, according to several American media.

NBC reported Wednesday that Cuban said he would receive $3.5 billion in the deal, which must be approved by NBA franchise owners to be finalized. finalized. The families of Miriam Adelson and her son-in-law Patrick Dumont, president of the Las Vegas Sands Corporation, explained Wednesday that they hoped to complete the purchase by the end of the year.

The widow of casino magnate Sheldon Adelson, who died in 2021, is the main shareholder of the company, which operates large casinos in Singapore and Macau, after selling its ets in Las Vegas. “The Adelson and Dumont families have entered into binding purchase agreements to acquire majority ownership and the right to serve as governor of the Dallas Mavericks», Indicates the press release. “The families are targeting completion of the transaction by the end of 2023, subject to satisfaction of customary closing conditions and approval of the NBA Board of Governors», specifies the text.

The “Mavs” seventh fortune in the NBA

In October, Forbes magazine valued the Mavericks seventh out of thirty clubs in the NBA, at 4.5 billion dollars (4.1 billion euros). According to Forbes, the personal fortune of Cuban, who became a billionaire when he sold his company to Yahoo in 1998, is around 6.2 billion dollars (5.6 billion euros). The basketball enthusiast who often attends Mavericks games purchased a majority stake in the team in January 2000 for $285 million.

The American, 65, would retain operational control of the club, titled under his leadership in 2011, but would no longer be the governor of the team with the NBA, a league whose leaders he has often criticized. In 2022, he had unveiled his plan for a new arena for the Mavericks, which he wanted to build as part of a casino, provided that the state of Texas legalized gambling.

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