“MASSIVE red flag” – Mark Cuban’s shock sale of majority stake in Mavericks sign of NBA’s money-making machine drying up, claims analyst 

Mark Cuban to sell his majority stake in Mavericks for a whopping $3.5 billion.

“MASSIVE red flag” – Mark Cuban’s shock sale of majority stake in Mavericks sign of NBA’s money-making machine drying up, claims analyst 

Mark Cuban is leaving Shark Tank after 16th season. (Image via Associated Press)

On Wednesday, it was reported that Mark Cuban, the majority owner of the Dallas Mavericks franchise in the NBA, had reached a deal worth $3.5 billion to sell his majority stake to the Adelson family, owners of the Las Vegas Sands Corp.

Despite the sale, Mark Cuban will retain control over the franchise’s operations and maintain the position on the NBA’s Governor board. Miriam Adelson, widow of Sheldon Adelson, inherited the company after the death of her husband and is worth about $32 billion.

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A statement was released by the Adelson family saying:

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The Dallas Mavericks are one of the world’s most successful and recognizable sports franchises. The team has won an NBA championship, has a long history of attracting international superstars and has been supported by a dedicated and passionate fanbase and leadership group led by Mark Cuban.

Amin Elhassan and Charlotte Wilder questioned the legitimacy of the sale in a program, exploring Mark Cuban’s decision to sell and delving into the underlying motives.

This is a massive red flag. To me it feels like, the ship be sinking, let me get off before everyone starts to figure.

Speculation suggests that Mark Cuban might be eyeing a run for the 2024 US presidency, while others propose that his decision to sell is a strategically calculated move influenced by uncertainties surrounding the market value in broadcasting fees.

Another business success for Mark Cuban?

As an American billionaire and soon-to-be former owner of the Dallas Mavericks in the NBA, Mark Cuban currently serves as a co-owner of 2929 Entertainment and stands out as a prominent figure on the ABC reality television series Shark Tank. Renowned for his reputation of making astute business deals, he boasts an estimated net worth of about $6.2 billion.

Mark Cuban
Mark Cuban (Image Via Inc. Magazine)

Commencing his entrepreneurial journey, Mark Cuban co-founded MicroSolutions, a company sold for $6 million. His success extended to Broadcast.com, a streaming company acquired by Yahoo! for $5.7 billion in Yahoo! stock. In addition to these ventures, he actively invests in startups and cryptocurrency. On January 24, 2000, Cuban acquired a majority stake in the Dallas Mavericks for $285 million from H. Ross Perot Jr.

Mark Cuban has become the face of the Dallas Mavericks with a commendable success rate of 69% since taking control. Under his leadership, the Mavs transitioned from a team with a mediocre record to NBA champions. Consistently demonstrating a knack for success, whether attributed to good fortune or luck, is a hallmark of Mark Cuban’s leadership.

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