Why Did Mark Cuban Sell Mavericks? Intricate Details on $2.7 Billion ‘Cash’ Transaction Revealed by ESPN Veteran

Having been the Mavs’ majority owner since 2000, fans are used to seeing Mark Cuban always sitting on the sidelines for every crucial game and supporting his squad with full passion. But this season, as the Mavs made an amazing run to the Finals, Cuban was not as front and center as he usually is, mainly because he is no longer the main guy in the franchise. Selling his majority stake to the Adelson family last year, Cuban’s role with the team has slowly diminished and he might be onto a whole new business plan in the future.

Veteran NBA Insider Brian Windhorst revealed some key details about Cuban’s multi-billion-dollar sale on The Pat McAfee Show and what led him to let go of the role he so dearly loved for over two decades.

What is Mark Cuban’s remaining stake in the Mavericks?

Being the majority owner for 23 years, Cuban at one point in his life believed that he’d never sell the Mavs to anyone. But realizing that he might not be fully equipped to keep up with the real estate revolution in the league, which is supposedly the next big thing, Cuban decided to partner with the casino and real estate tycoons who could help him achieve that goal. “I couldn’t build a Chase Center if I wanted to. My new partners… that’s what they live for.” Cuban had said on Draymond Green’s podcast. So, he sold his majority stake to the Adelson Family at a valuation of over $3.5 billion while still keeping a 27% minority stake in the franchise.

On Pat McAfee’s podcast, Windy further confirmed the number, “I think he walked away with like $2.7 billion cash in his bank account.” Considering that he bought the stake for only $285 million, that’s a humungous profit for the business mogul. Then, Windhorst suggested that Mark might also be interested in getting into a certain niche that is currently booming in the sports world with huge partnerships with brands like FanDuel and DraftKings. “That’s one of the reasons why he made this deal with the Adelson Family. The idea would be that he would be a partner in a potential casino with them.”

As of today, gambling and sports betting are strictly illegal in most parts of Texas. However, there have been constant efforts to get casino gambling legally passed, which could benefit the Adelson Family as it has with the Seminole tribe in Florida. Just recently, the tribe retained exclusive statewide control over sports betting in Florida until 2051. If the Adelsons get that kind of control over the business in Texas and Mark Cuban partners with them, it will be a huge opportunity for success. “If Mark Cuban is trying to get into the casino gambling business, obviously that would make sense because I don’t think any of those have ever lost money,” McAfee remarked.

What is Mark Cuban’s official position now in the Dallas Mavericks?

Apart from him selling his majority stake, there is one more reason that hints at Cuban slowly moving away from basketball. As per ESPN’s Tim MacMahon, the Shark no longer holds control of the team’s basketball operations. As we remember, even after Cuban had sold his stake, many claimed that he would still be in charge of the basketball side. And the Adelson’s would handle the business and infrastructure aspect. However, as the Mavs lost the 2024 Finals, it became clearer that Cuban might no longer hold that responsibility.

Amid the uncertainty, Windhorst clarified what Mark Cuban’s role will be now, “I think his title is Mavericks Proprietor, which is really weird and I think they should get rid of.” Yeah, unlike ‘owner’ such a title really does not have an obvious explanation from a basketball sense too. Windhorst and McAfee weren’t really sure how involved Cuban would remain in the team’s decisions anymore. About his control over its operations, Windy claimed, “I don’t think so. You’re not the Governor.” The Mavs will surely make some major changes this off-season to get back to this stage and win the whole thing. But how much will Mark Cuban have to do with the moves they make?

Pat McAfee suggested that if Cuban’s role with the Mavs is now lesser or over, he should think of buying MLB’s Pittsburgh Pirates. It’s his hometown team. A few years after buying the Mavs, he also showed interest in buying the Pirates. But in 2005, he was denied with the club’s VP Patty Paytas saying, “The Pirates are not for sale.” But nearly two decades have passed, and Cuban could think of revisiting that idea as he has always wanted to own a team in his hometown. And he needs to invest the billions he earned from selling the Mavs somewhere!

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