Mark Cuban Selling Majority Interest In Dallas Mavericks To Adelson Family

Mark Cuban is selling his majority stake in the Dallas Mavericks to the Adelson family, according to The Athletic and veteran NBA reporter Marc Stein.

The deal values the Mavericks at approximately $3.5 billion and, in a unique aspect of the deal, Cuban will retain full control of basketball operations.

Cuban paid $285 million for the Mavericks in 2000.

Miriam Adelson, an American and Israeli physician and billionaire and the largest shareholder at behemoth casino chain Las Vegas Sands
LVS
, sold $2 billion of her shares to purchase the Mavericks, as reported earlier Tuesday by William Skipworth of Forbes.

Forbes estimate Adelson and her family’s net worth to be $32.3 billion, making her the 44th-richest person and the fifth-richest woman in the world.

Also Tuesday, Cuban announced he will be leaving ABC’s “Shark Tank,” which includes “sharks” Cuban, Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John and Kevin O’Leary.

“Next year, our 16th year, is gonna be my last year, so I got one more year to go,” Cuban told former NBA players Matt Barnes and Stephen Jackson on their podcast.