Top Ad
I DIG Radio
www.idigradio.com
Listen live to the best music from around the world!
I DIG Style
www.idigstyle.com
Learn about the latest fashion styles and more...

Cuban's sale of majority stake in Mavs approved

Written by 
Published in Basketball
Wednesday, 27 December 2023 09:21

DALLAS -- The NBA on Wednesday approved the sale of controlling interest of the Dallas Mavericks from Mark Cuban to the families that run the Las Vegas Sands casino company.

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. The purchase is in the valuation range of $3.5 billion.

Patrick Dumont, president and chief operating officer of the Las Vegas Sands company and Adelson's son-in-law, will serve as Mavericks governor. Adelson is the widow of casino magnate Sheldon Adelson.

Cuban is expected to maintain control of basketball operations, and there's no indication the club will leave Dallas.

Cuban has said he wanted to partner with Las Vegas Sands with a long-range plan of building an arena in downtown Dallas that would include a hotel and casino.

Gambling isn't legal in Texas, and efforts to legalize it face steep odds. Still, Miriam Adelson has made no secret of her push to bring casino gambling to the Lone Star State.

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 state Capitol with lobbyists. She gave an additional $1 million separately to Republican Gov. Greg Abbott.

But the spending blitz failed to deliver a breakthrough this year in the Texas Legislature, where resistance to legalizing casinos runs deep.

Texas already has a billionaire NBA owner who is a casino operator, Houston Rockets governor Tilman Fertitta. Fertitta also supports bringing casinos to his home state but has watched lawmakers sink the idea year after year.

News of the sale of the Mavs broke last month, hours after Las Vegas Sands announced Adelson was selling $2 billion of her shares to buy an unspecified professional sports team.

Read 106 times

Soccer

Atléti mark Simeone's 700th game with late win

Atléti mark Simeone's 700th game with late win

Diego Simeone's 700th game in charge of Atlético Madrid ended in a late 2-1 win over Deportivo Alave...

Sources: Olof Mellberg to become St.Louis boss

Sources: Olof Mellberg to become St.Louis boss

EmailPrintOpen Extended ReactionsFormer Aston Villa and Sweden defender Olof Mellberg has signed a m...

Arteta backs Saka amid Kane drop-outs comment

Arteta backs Saka amid Kane drop-outs comment

EmailPrintOpen Extended ReactionsMikel Arteta has hit back at anyone questioning Bukayo Saka's commi...

2026 FIFA


2028 LOS ANGELES OLYMPIC

UEFA

2024 PARIS OLYMPIC


Basketball

NBA follows NFL in warning players on burglaries

NBA follows NFL in warning players on burglaries

EmailPrintThe NBA is urging its players to take additional precautions to secure their homes followi...

Sources: Zion (hamstring) not close to returning

Sources: Zion (hamstring) not close to returning

EmailPrintNew Orleans Pelicans star Zion Williamson has undergone multiple treatments on his left ha...

Baseball

Hays, Finnegan, Rodgers among new free agents

Hays, Finnegan, Rodgers among new free agents

EmailPrintOpen Extended ReactionsNEW YORK -- Outfielder Austin Hays and right-hander Kyle Finnegan -...

Judge giving Soto space amid free agency frenzy

Judge giving Soto space amid free agency frenzy

EmailPrintOpen Extended ReactionsNEW YORK -- Aaron Judge is one of the few people on Earth who can r...

Sports Leagues

  • FIFA

    Fédération Internationale de Football Association
  • NBA

    National Basketball Association
  • ATP

    Association of Tennis Professionals
  • MLB

    Major League Baseball
  • ITTF

    International Table Tennis Federation
  • NFL

    Nactional Football Leagues
  • FISB

    Federation Internationale de Speedball

About Us

I Dig® is a leading global brand that makes it more enjoyable to surf the internet, conduct transactions and access, share, and create information.  Today I Dig® attracts millions of users every month.r

 

Phone: (800) 737. 6040
Fax: (800) 825 5558
Website: www.idig.com
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Affiliated