Mark Cuban Officially Sells Dallas Mavs To Miriam Adelson

Things just got very real for the Dallas Mavericks who will officially welcome their new majority owner Miriam Adelson and her family later this week. The approval from the NBA Board of Governors came down Wednesday morning according to WFAA in a “29-0 vote that will install Sands Corp. COO Patrick Dumont as the Mavericks governor with a 73% stake, while Cuban will be an alternate governor at 27%.”

Mark Cuban bought the Mavericks for $285 million in 2000 and is expected to get close to $4 billion for the sale. He will also maintain control over basketball operations.

Twitter @wojespn, Adrian Wojnarowski, ESPN Senior NBA Insider

This vote also helps push the agenda of Cuban’s dream of bringing a casino resort to Texas. Bloomberg reports that casino style gambling is outlawed in the Lone Star State and that “Texas lawmakers have tried to pass legislation to legalize casino gambling for more than a decade, but the efforts failed amid concern the industry would bring with it criminal activity such as money laundering, and prey upon people addicted to gambling.”

Cuban has a more optimistic point of view telling WFAA, “I think a new arena, real estate area and hopefully a future resort casino can replace what we lose in media and fund current and future Mavs. I think if resort casinos pass, Dallas becomes a top 5 travel destination in the country.”

The partnership with Adelson, who is the widow of the late Sheldon Adelson (founder of the Las Vegas Sands Corporation) has been in motion for almost a year. There are even documents to support the negotiations like state tax records and property records that show Adelson’s casino company purchased around 100 acres near the old Texas Stadium site in Irving.

D-Magazine/Tim Rogers, The Record-USA TODAY NETWORK

Forbes shares a few facts about billionaire Miriam Adelson and her family.

She and her family now own more than half of the New York Stock Exchange-listed gambling empire, which has casinos in Singapore and Macao.
As GOP megadonors, Miriam and Sheldon Adelson donated $180 million to Republican campaigns and political action committees in 2020.
Born in Israel, she became a medical doctor focusing on addiction.
In February 2022, Las Vegas Sands sold its assets on the Vegas Strip, the Venetian Resort and the Sands Expo and Convention Center, to Apollo Global and VICI Properties for $6.25 billion.

However, with all this breaking news, the Mavs players must stay focused on the game against the Cleveland Cavaliers at 7:30 PM at the American Airlines Center. They are coming fresh off a Christmas win against the Suns 128-114.