Mark Cuban was a majority shareowner of the Dalla Mavericks but has now taken a step back in team ownership by maintaining only 27.7% of the Mavericks’ stake.
Key Takeaways
- In 2023, Mark Cuban sold his majority share in the Dallas Mavericks to the Mirian Adelson family for a $3.5 billion deal.
- When Mark was asked about a potential partnership to co-own another NBA team with Shaq and LeBron, his answer was positive.
- According to ESPN’s report, the NBA league hasn’t decided to expand until 2027-28 but this has given LeBron plenty of time to transition.
He sold his majority share for a $3.5 billion deal to the Mirian Adelson family, a well-known casino and real estate name.
Cuban joined the ownership panel of the Mavericks, who purchased the teams’s majority stake for $285 million from H. Ross Perot Jr., a real estate developer best known for Alliance, Texas in 2000.
He took a very hands-on approach to managing the team and turned the then-failing Dallas into one of the best teams in the NBA.
So, people were in shock as to why Mark suddenly sold significant shares in the team.
Opening up on “The Big Podcast with Shaq,” Cuban revealed the reason for his 2023 major decision,
“When I first bought [the Mavericks] in 2000 I was the tech guy in the NBA. I was the media guy. I had every edge and every angle. Now fast-forward 24 years later. In order to sustain growth to be able to compete with the new collective bargaining agreement, you have to have other sources of revenue. So you see other teams, in all sports for that matter, talking about casinos, talking about doing real estate development. That’s just not me. I wasn’t going to put up $2 billion to get an education on building. If we’re able to build a Venetian-type casino in Dallas with an American Airlines Center in the middle of it, the valuation is $20 billion. But I own 27% of that.”
Via The Big Podcast
– Mark Cuban
Mark shared that his children, now 15, 18, and 21, are increasingly feeling the pressure of team management as he grows older.
He acknowledged that many others have passed down their teams to their kids—some embracing the responsibility, while others harbor resentment.
Mark is determined not to subject his children to such a burden, preferring to shield them from the potential stress.
It’s clear that Mark prioritizes his children’s well-being above all else, demonstrating his commitment to being a supportive and considerate father.
On the same podcast, when Shaq asked,
“Mark, a hypothetical question, NBA gets two more teams, and people are talking smack to you….got some money in the bank..got some other partners..Wink Wink Me, would you do it again?”
Via The Big Podcast
To which Mark Cuban responded,
“I’d have to make it okay with my current partners, but, yeah, if my kids were like, ‘All right, we’re set. We don’t. You know, that’s not what we want or whatever.’ And it was Shaq. F**k Yeah. I would look at making a comeback. … So, you know, we get me, you, LeBron, we might have something there”
Via The Big Podcast
Mark Cuban on if he’d team up with Shaq to invest in another NBA team 👀 pic.twitter.com/i1qBnGeKVq
— The Big Podcast (@bigpodwithshaq) October 15, 2024
However, according to ESPN’s report, the NBA has not decided to expand until 2027-28, but this seems to have worked in their favor.
In addition to that, according to Sportskeeda,
“The big question, of course, has been whether LeBron James will have to retire as an owner to join a franchise as an owner. While he hasn’t decided when he wants to retire, the targeted 2027-28 season for an expansion would give the four-time champ plenty of time to ride out his career before transitioning to ownership……. With Cuban and O’Neal as potential partners, James’ NBA ownership dream could become a reality in the coming years.”
Vis Sportskeeda
So, we can hope to see a legendary partnership between the three big names in the near future.
This has got to be one of the most exciting news for NBA fans.
In Case You Didn’t Know
- Mark Cuban is a billionaire American businessman and television personality.
- He co-founded MicroSolutions with support from his previous customers at Your Business Software.
- Shaq O’Neal is one of the five wealthiest NBA players, with a net worth of $400 million.
