Mark Cuban has sold his majority stake in the Dallas Mavericks to Miriam Adelson

Mark Cuban has sold his majority stake in the Dallas Mavericks to Miriam Adelson

Dallas Mavericks owner Mark Cuban has agreed to sell a majority of his NBA club’s stock to the family of Miriam Adelson, the widow of late Republican donor and casino magnate Sheldon Adelson, officials said Wednesday.

“The Adelson and Dumont families have entered into binding purchase agreements to acquire majority ownership and the right to serve as governor of the Dallas Mavericks,” a statement issued by the NBA on behalf of the potential new owners said.

Patrick Dumont is Miriam Adelson’s son-in-law and serves as president and chief operating officer of the family’s Las Vegas Sands company, one of the world’s most iconic hotel and gaming companies.

It owns some of the most famous properties in Singapore and Macau, including Marina Bay Sands with a rooftop pool that was used in the movie “Crazy Rich Asians.”

Terms of the sale were not immediately disclosed, although NBC Dallas-Fort Worth valued the deal at $3.5 billion.

Cuban’s wealth is estimated at $6.2 billion, according to Forbes magazine.

“The families aim to close the transaction by the end of the year, subject to customary closing conditions and approval by the NBA Board of Governors,” the family’s statement read.

The potential new owners would be in control of the seventh-most valuable franchise in the NBA, which is worth about $4.5 billion, according to the latest Forbes rankings.

Only the Golden State Warriors, New York Knicks, Los Angeles Lakers, Clippers, Boston Celtics, and Chicago Bulls have a higher estimated value.

The Mavericks have won the NBA title once, in 2011, and are one of the most popular teams in the league, thanks in part to Cuban’s outsized personality.

Cuban, 65, recently announced that he intends to leave the investment reality TV show “Shark Tank” next year.

The basketball executive is always mentioned as a potential third-party presidential candidate, but Cuban told NBC News on Wednesday that he’s not interested in running for the White House in 2024.

“The Dallas Mavericks are one of the most successful and distinguished sports franchises in the world,” according to the potential new owners. “The team has won an NBA championship, has a long history of attracting global stars, and is supported by a dedicated and passionate fan base and a leadership group led by Mark Cuban.”

Miriam Adelson’s husband, Sheldon Adelson, was known to be a powerful donor to the Republican Party who died in 2021 at the age of 87.

Both Sheldon and Miriam Adelson have been ardent supporters of President Donald Trump. Miriam Adelson was awarded the Presidential Medal of Freedom in 2018.


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