Despite Wednesday’s approval of the sale of the controlling interest of the Mavericks, Mark Cuban will continue running the franchise’s basketball operations, saying, « Nothing’s really changed except my bank account. »
DALLAS — Mark Cuban beamed about forming a « great partnership » hours after the NBA board of governors approved the sale of the controlling interest of the Dallas Mavericks to the families that run the Las Vegas Sands casino company, a deal that will allow Cuban to continue running the franchise’s basketball operations.
The deal was approved Wednesday, just shy of a month after the families of Miriam Adelson and Sivan and Patrick Dumont announced their intention to buy the club. The purchase is at a valuation in excess of $4 billion, sources told ESPN.
« Nothing’s really changed except my bank account, » Cuban said after wrapping up his 3-point shooting session on the American Airlines Court about 2½ hours before Wednesday night’s game against the Cleveland Cavaliers. « I feel really good. I think it’s a great partnership. It’s what the team needed on the court and off. I’ll still be overseeing the basketball side of it, but having a partner like Patrick and Sivan and Miriam and their ability to build and to redevelop the arena and whatever comes next beyond that just puts us in a much better position to compete. That’s all. That’s what it comes down to. »
Adelson is the widow of casino magnate Sheldon Adelson. Patrick Dumont, Adelson’s son-in-law and president and chief operating officer of the Las Vegas Sands company, will serve as the Mavericks governor.
« The state of Texas has always been friendly to our family, and we look forward to being able to repay that kindness. I am excited to spend time cheering on the team and getting to meet members of its passionate fan base, » Adelson said in a statement. « Everywhere we have a business presence, our top priority has been to empower our team members and engage with the local community in a meaningful way. I very much look forward to bringing that same commitment to Dallas and the greater DFW area. »
Cuban will maintain a 27% stake of the Mavericks’ ownership and serve as the team’s alternate governor. He acknowledged that there is « no contractual language » in the purchase agreement regarding his authority over basketball operations and that ultimately Dumont would have « final say » as the team’s governor.
However, Cuban’s expectation is the Dumonts and Adelson will focus on the franchise’s business interests, which prominently include a long-term plan of building an arena that would include a resort hotel and casino.
