Is he sick? He stopped doing shark tank too. Maybe he's gonna Walt Disney himself and stick his head inside one of Elon's vip shuttles
Everybody was trying to figure out which sports franchise Adelson would go after when she was selling that stake in LVS. Never would've guessed it would be the Mavs. Guess he's gonna run for president now. lol.
Sells majority shares but keeps full control of basketball operations? That’s an odd offer for the Adelsons to accept. Why wouldn’t they want a say in basketball operations as majority owner?
I wonder if it has anything to do with the TV money he spoke about on Stephen Jackson and Matt Barnes podcast. It is looking like the money may be more but with less years.
Here is the speculation I have seen so far Health Running for office Wants to concentrate on drug compamy Divorce
Because they view it as an asset and they believe Cuban will do a good job. For all the attention Cuban has gotten- he has won a single title.
You now have three owners of relatively successful franchises selling out (Marc Lasry, Suns Owner and Mark Cuban), plus Jordan. Jordan by far got the best deal, as he sold only 65 percent for $3B. How in the heck did Cuban only get $3.5B for the Mavs? I suppose you would discount it if he gets a different class of stock or some such, but still seems low. The NBA is seeing a lot of turnover in teams the last 8 years: - Clippers - Rockets - Nets - Bucks - Suns - Hawks - T-Wolves - Jazz - Hornets - Pistons - Pelicans - Mavs That is 33 percent of its teams, and in many cases these are well run organizations. I know team valuations have skyrocketed, but that suggests that these selling owners know something we don't. Could be TV deals, could be reduced revenue from China, who knows. Obviously it could be just pure greed, but still.
My guess is young peoples declining interest in sports combined with the decline of network television. At the same time valuations are sky high. There is no way this many owners would sell if they believed in these valuations. This might be the second time Cuban cashes out at the perfect time.
Smart play, all he wanted is to go to Mavs games and hang out with players stilll.....and he does not want to fund all the money now.
Thank god, then he can finally relax and do whatever he wants with his life! Our dumbass billionaires have too much money and too much time. I'd say its to think just sitting on your pile of money Scrooge McDuck style is a better soicetal outcome than "Let's build another Las Vegas - BUT IN DALLAS " - but I didn't have the idea in 1995 to sell AM radio sports over the internet.
Cuban will keep a roughly 20% stake in the Mavs, sources said, but the surprising sale raised speculation the entrepreneur and reality TV star was facing a liquidity crunch. Cuban has invested heavily in crypto over the years – further fueling questions about his finances after the collapse of exchanges like FTX and Binance. He had investments in Ethereum-token ApeCoin, cross-chain wallet service Blockto, crypto Injective Protocol, NFT metaverse developer Althea Artificial Liquid Intelligence Token and blockchain ecosystem Ocean Protocol, according to a December 2022 article in CoinGape. He also owned a stake and heavily promoted now bankrupt Voyager Digital. “He’s failed in a lot of these crypto endeavors,” a source close to Cuban said.
Actually Cuban got the best deal since he bought the franchise for 385M and sold it for 3.5B while still retaining control so he gets his cake and eats it too. Furthermore, league rules stipulate a minority owner being in control of bball operations should have at least 15% ownership stake so he still has shares in the Mavs. Regardless, I doubt the NBA is in trouble if owners are able to sell their stake for more than 1000% profit. And in MJ and Cuban's case they didn't even sell all of it. If anything that tells you they still have confidence in the NBA since otherwise they would have sold all their stake.
