How Long Has Mark Cuban Owned The Dallas Mavericks? Every Detail on Why Business Mogul Bought It, How Much He Sold It For & Current Value

Being the owner of an NBA team comes with a lot of challenges. With billions at stake, every move you make has significant positive or negative consequences. However, one person who has excelled at this role for more than two decades and made billions off his initial investment while also taking his team to new heights is the Dallas Mavericks’ owner Mark Cuban.

While Cuban recently sold his stake and became the minority owner of the franchise, it was not always this way. Let’s dive deeper into Cuban’s iconic journey as the owner of the Mavs and what eventually led to him selling the team that he built.

Billionaire Mark Cuban gets his wish in 2000

Being a season ticket holder of the Mavs long before he became an owner, Cuban once revealed in an interview that he went to attend the season opener only to be disappointed by the lack of energy in the crowd. Moreover, the franchise failed to sell-out the arena on opening night. And that left him wondering, “I was sitting there going, I can do a better job than this.” While many people would have had a similar thought considering the Mavs at that point were the laughing stock of the league, Cuban had the money to make his wish come true.

Then, purchasing the team’s majority stake for $285 million in the beginning of 2000, Cuban officially became the owner of the team. Apart from his ambition of making the Mavs a respectable franchise, Cuban also made the move because of his love for the game. Recently making an appearance on The Draymond Green Show, the multi-billionaire pounced at the opportunity because he anyway played pick-up games three to five times a week and this way, he would get a chance to play with legends like Dirk Nowitzki. Because of his excitement, Cuban didn’t even try to cut down the asking price of his new purchase, “I didn’t even negotiate. I was like Yes, whatever.”

Mark Cuban was forced to do the unthinkable because of changing landscape

“Honestly I never thought I would sell it at all.” Being the Mavs majority owner for twenty-three long years, Cuban revealed that initially he wanted to stay in that role forever. Then why did Cuban go against his will? As it turns out, he had to look at it from a business perspective and realize that he was not well equipped to take the franchise in the direction that the league was treading in. Believing that the future advantages of ownership lie in the team’s real estate and how well the in-arena experience is for the fans, Cuban sold his majority stake to the Adelson Family last December for a whopping $3.5 billion valuation.

“I couldn’t build a Chase Center if I wanted to. My new partners… that’s what they live for.” Cuban told Draymond on his podcast, revealing the very reason why he partnered with real estate tycoons and Las Vegas Sands owners. While Cuban spent years giving his players the most advanced resources and a great environment to succeed, he realized that his expertise doesn’t lie in the real-estate department. So, in order to grow he needed the right partners, “When you get a world-class partner who can come in and grow your revenue base and you’re not dependent on things that you were in the past, that’s a huge win.” However, Cuban still owns a 27% stake in the team and utilises his passion for the game as the head of basketball operations. So, he continues to stay involved with the team despite turning into a minority owner.

What are the Mavs worth now?

Since Cuban has transferred ownership to the Adelson Family, the Mavs have increased their value even more because of their recent success and historic playoff run. Seeing a thirty-six percent increase from last year, they are reportedly valued at $4.5 billion. So, it’s safe to say that Cuban might have made the right move by staying ahead of the curve.

Meanwhile, their new Governor Patrick Dumont is already planning big things for the franchise just like Cuban predicted. With a vision to build an arena where fans will be able to book their stays and enjoy the games all in the same place, Dumont gave a glimpse of the possible future in an interview back in February, “It’s a pretty unique experience and it’s great for the fans. And so, if we can create a home for the Dallas Mavericks where that’s a possibility, I think that would be pretty good.”

Yes, Mark Cuban might no longer be the primary owner of the Mavs. But the role he has played in the last twenty-four years of turning the franchise from the laughing stock to a team on the verge of winning their second title this year, the Mavs fanbase will be thankful Cuban took over in 2000.

Stay tuned for more such updates, and to follow in what Shaq’s ex-agent, Leonard Armato had to say about the marketing genius, watch this video.