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 55 times

Soccer

Ronaldo, 39, wants to to defy age, continue career

Ronaldo, 39, wants to to defy age, continue career

EmailPrintOpen Extended ReactionsCristiano Ronaldo has said he has no plans of slowing down at the a...

Source: Tuchel open to stay, wary of Man Utd snub

Source: Tuchel open to stay, wary of Man Utd snub

EmailPrintOpen Extended ReactionsThomas Tuchel is open to remaining as Bayern Munich coach amid conc...

Ederson ruled out for title decider, FA Cup final

Ederson ruled out for title decider, FA Cup final

EmailPrintOpen Extended ReactionsEderson will miss Manchester City's last Premier League game as wel...

2026 FIFA


2028 LOS ANGELES OLYMPIC

UEFA

2024 PARIS OLYMPIC


Basketball

Bickerstaff future a question for Cavs; Mitchell, too

Bickerstaff future a question for Cavs; Mitchell, too

EmailPrintOpen Extended ReactionsBOSTON -- After Cleveland saw its season end in a 113-98 loss to th...

Luka keeps peace with refs, dominates pivotal G5

Luka keeps peace with refs, dominates pivotal G5

EmailPrintOpen Extended ReactionsOKLAHOMA CITY -- Dallas Mavericks superstar Luka Doncic, quite inte...

Baseball

MLB Power Rankings: The AL and NL Central are rising -- which teams are in our top 10?

MLB Power Rankings: The AL and NL Central are rising -- which teams are in our top 10?

EmailPrintOpen Extended ReactionsWhile some of the usual players dominate our list, five of our top...

Scherzer to 60-day IL; can't return until May 28

Scherzer to 60-day IL; can't return until May 28

EmailPrintOpen Extended ReactionsARLINGTON, Texas -- Max Scherzer was transferred to the 60-day inju...

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