Shams bomb. NBA insider Shams Charania of The Athletic was the first to report Tuesday evening that Mark Cuban is selling a majority stake of his Dallas Mavericks for a whopping $3.5 billion.
According to Charania, Miriam Adelson and the casino tycoon Adelson family has purchased a majority stake in the NBA team. The report goes on to note that Cuban will keep shares of the team and maintain full control of basketball operations.
Cuban, 65, is said to have a net worth of $6.2 billion. He bought a majority stake in the Mavericks from then-owner H. Ross Perot Jr. for a mere $285 million back in 2000. According to Forbes, the Mavericks are valued at an estimated $4.5 billion. This means that Cuban will retain minority control over the NBA franchise.
Miriam Adelson is an American and Israeli physician who was married to casino magnate Sheldon Adelson up until his death back in 2021. She is said to have a net worth of $35.5 billion. This makes her the 35th-richest person in the world.
As for Cuban, he has been an often-volatile figure during his time as the Mavericks’ owner, continually bumping heads with the powers that be within the NBA. He’s also been an outspoken figure when it comes to the social and political affairs of the day. Heck, he was even bandied about as a presidential candidate back in 2020 before ultimately shooting it down.
“I get a lot a requests all the time but my family shut it down. The unfortunate reality of politics these days is that it’s brutal,” Mark Cuban said in a chat with America’s Black Press. “It’s not something that you want your young kids to go through and have to experience.”
Despite all of this, Charania’s report comes completely out of left field. Cuban has been among the most recognizable figures in the professional sports landscape of North America since he took over as majority owner of the Mavericks. His hands-on approach has also defined the billionaire’s tenure in Big D.
NBA world reacts to Mark Cuban selling the Dallas Mavericks
It goes without saying that those around the NBA world had their reactions to Tuesday evening’s absolutely shocking news. They ranged from disbelief over Cuban’s decision to sell to some having fun at his expense. Here are the best reactions on social.