While the 65-year-old likely will continue to make basketball decisions, the sale comes as he is stepping away from the popular business TV reality show “Shark Tank” after a 16th season next year.Ĭuban was a highly visible owner almost from the day he bought the team in 2000. It remains to be seen how the sale will affect Cuban’s place in the spotlight.

News of the sale of the Mavs broke last month, hours after Las Vegas Sands announced that Adelson was selling $2 billion of her shares to buy an unspecified professional sports team. Texas already has a billionaire NBA owner who is a casino operator, Houston Rockets owner Tilman Fertitta, who also supports bringing casinos to his home state but has watched lawmakers sink the idea year after year. Greg Abbott.īut the spending blitz failed to deliver a breakthrough this year in the Texas Legislature, where resistance to legalizing casinos runs deep. She gave an additional $1 million separately to Republican Gov. She pumped more than $2 million last year into a political action committee, called Texas Sands, which donated lavishly to state legislators and swarmed the GOP-controlled Capitol with lobbyists.

Still, Miriam Adelson has made no secret of her push to bring casino gambling to the Lone Star State. Gambling isn’t legal in Texas, and efforts to legalize it face steep odds. Adelson is the widow of casino magnate Sheldon Adelson.Ĭuban is expected to maintain control of basketball operations, and there’s no indication the club will leave Dallas.Ĭuban has said he wanted to partner with Las Vegas Sands with a long-range plan of building an arena in downtown Dallas that also would include a hotel and casino. Patrick Dumont, Adelson’s son-in-law and president and chief operating officer of the Las Vegas Sands company, will serve as Mavericks governor. The purchase is in the valuation range of $3.5 billion. The deal was approved just shy of a month since the families of Miriam Adelson and Sivan and Patrick Dumont announced their intention to buy the club. DALLAS > The NBA today approved the sale of controlling interest of the Dallas Mavericks from Mark Cuban to the families that run the Las Vegas Sands casino company.

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