In 2000 American businessman Mark Cuban purchased a majority stake in the Dallas Mavericks. At the time the Mavs were a fairly unappealing prospect, with just one division title in their 20-year history and a win percentage of just 40%.
Since then, however, Dallas has become a real force in the NBA, winning a further four division titles (2007, 2010, 2021, 2024), two conference titles (2006, 2011) and their first-ever championship in 2011. Dallas look well-placed to go deep in the playoffs again this year but have had a major change of ownership.
In December Mark Cuban, who has been credited with helping the team’s dramatic improvement, sold a 73% stake in the Dallas Mavericks to Miriam Adelson and Sivan and Patrick Dumont.
The Adelson and Dumont families are thought to have paid around $3.5 billion for a controlling share of the Mavericks. Cuban retains a 27% stake in the team and remains in charge of the basketball operations.
Why did Mark Cuban sell his stake in the Dallas Mavericks?
The Pittsburgh-born entrepreneur is not short on business ventures. He is the co-owner of 2929 Entertainment, the founder of AXS TV and HDNet and a prolific investor through the television show Shark Tank. He even owns the town of Mustang in Texas, which he bought for $2 million in 2021.
With all that going on, Cuban decided that he need to bring in fresh cash and greater experience to help his forays in the real estate business. The Adelson and Dumont families made their money in casino and hotel businesses and Cuban said that he was excited to bring their skills and experience on board.
“The advantage is what can you build and where and you need to have somebody who’s really, really good at that,” Cuban said when the deal was announced. “Patrick and Miriam, they’re the best in the world at what they do. Literally, around the world. When you get a world-class partner who can come in and grow your revenue base and you’re not dependent on things that you were in the past, that’s a huge win.”
FAQs
Cuban retains a 27% ownership in the team, oversees basketball operations, and serves as the Mavericks' alternate governor. Companies owned by Cuban still hold other properties near Downtown Dallas in the Deep Ellum and Cedars neighborhoods.
What percentage of the Mavericks does Mark Cuban own? ›
The Adelson and Dumont families are thought to have paid around $3.5 billion for a controlling share of the Mavericks. Cuban retains a 27% stake in the team and remains in charge of the basketball operations.
Who are the minority owners of the Dallas Mavericks? ›
| Dallas Mavericks |
|---|
| General manager | Nico Harrison |
| Head coach | Jason Kidd |
| Ownership | Miriam Adelson and Patrick Dumont (69%) Mark Cuban (27%, oversight of basketball operations) Mary Stanton (4%) |
| Affiliation(s) | Texas Legends |
19 more rowsMiriam Adelson, the Las Vegas casino magnate and fifth-richest woman in the world whose purchase of the Dallas Mavericks was approved by the NBA in December, was in attendance for her first Mavericks game since formally taking control of the franchise, joined by son-in-law and Mavericks governor Patrick Dumont.
How many owners own the Dallas Mavericks? ›
The NBA announced last week that the league's “Board of Governors has approved the sale of the controlling interest in the Dallas Mavericks from Mark Cuban to the families of Dr. Miriam Adelson and Sivan and Patrick Dumont.”
Who owns the majority of Mavericks? ›
In December, the NBA Board of Governors unanimously approved Cuban's sale of the majority stake in the Mavericks to the Adelson and Dumont families and their casino empire.
How much is Mavericks worth now? ›
Forbes listed the value of the team at $4.5 billion in October 2023, making the Mavericks the seventh most valuable NBA franchise. Bloomberg reports that Adelson sold $2 billion worth of Las Vegas Sands Corp. stock before purchasing the Mavericks to help facilitate the sale.
Is Mark Cuban still a minority owner? ›
In November, Dallas owner Mark Cuban announced an agreement to sell a majority stake in his franchise, with a twist. While the Adelson family, which runs the Las Vegas Sands casino company, would become majority owners, Cuban would stick around as head of basketball operations while continuing to claim 27% of the team.
How many businesses does Mark Cuban have? ›
Through his VC firm, Mark Cuban Companies, he's invested in over 400 businesses to date—but his 2000 deal for a stake in the Dallas Mavericks has been by far his most lucrative. Cuban owns 85% of the NBA team, which Forbes values at $3.3 billion.
How much money does Mark Cuban have? ›
DALLAS (AP) — Mark Cuban sees a future of NBA ownership where the advantages will be in real estate. The high-profile billionaire says that's why he sold his majority stake in the Dallas Mavericks to a pair of families with strong ties to the hotel and casino industry.
Is Mark Cuban still on Shark Tank? ›
Mark Cuban's decision to leave 'Shark Tank' proves there's something he values more than money: time.
Who is the billionaire in the Dallas Mavericks? ›
Billionaire celebrity investor and entrepreneur Mark Cuban sold a majority stake in the Dallas Mavericks late last year, giving control of the franchise to a billionaire casino magnate just in time for the team's second NBA Western Conference Finals appearance in three years Wednesday.
Does Mark Cuban still own part of the Mavs? ›
Even after selling a major part of the franchise, Cuban still holds 27% of the team. Moreover, he has sustained his power to look over the basketball operations of the Dallas Mavericks.
How much did Don Carter sell the Mavericks for? ›
Carter in 1996 sold majority interest in the franchise to Ross Perot Jr. for $125 million, but kept a minority share of the team. Carter maintained that share when Cuban purchased majority interest of the franchise and half of American Airlines Center's lease rights from Perot at a franchise-valuation of $285 million.
Who owns Dallas Mavericks stadium? ›
American Airlines Center
| Owner | City of Dallas |
| Operator | Center Operating Company, L.P. (a joint venture between the Dallas Mavericks and Dallas Stars) |
| Capacity | Basketball: 19,200, up to 21,146 with standing room Ice hockey: 18,532, up to 19,323 with standing room Concerts: 21,000 |
| Field size | 840,000 sq ft (78,000 m2) |
| Construction |
|---|
20 more rowsIs he the richest shark? As of the most recent update to this article, Cuban's net worth was estimated at $6.86 billion. This made him the 367th-richest person in the world at the time — and by far the richest shark on “Shark Tank.” At one point in 2022, Forbes listed Cuban as the 227th-richest American.
How did Mavericks owner make his money? ›
Mark Cuban is a personal friend so I might be biased. Mark is famous for being a shark investor on Shark Tank. Mark is rich because he started video company Broadcast .com and sold it for over $5 Billion to Yahoo. But, Mark is loved by sports fans around the world as owner of the NBA Dallas Mavericks.
How many businesses does Mark Cuban own part of? ›
Through his VC firm, Mark Cuban Companies, he's invested in over 400 businesses to date—but his 2000 deal for a stake in the Dallas Mavericks has been by far his most lucrative. Cuban owns 85% of the NBA team, which Forbes values at $3.3 billion.
Is Mark Cuban married? ›
