Mark Cuban Sold Mavs Stakes Only to Boost $329 Billion Industry in Texas, 7x NBA Champ Speculates

Mark Cuban has reportedly sealed the deal with Miriam Adelson and her family, handing over a majority stake in the Dallas Mavericks to the powerful family. Cuban had owned the majority of the Mavs for almost 25 years. The new part-owner Miriam is the wife of the late Sheldon Adelson, an Israeli-American entrepreneur, who was also the founder and former CEO of the Las Vegas Sands.

The deal is set at $3.5 billion and Cuban will still have a hand at the team’s stakes moving forward. However, 7X NBA Champion Robert Horry, in his show Big Shot Bob Podcast, senses some other intentions behind the deal; he suspects that the Cuban-Adelson deal could unveil some similar interests between the two parties.

Mark Cuban plans on building a casino in Texas

Considering that the Adelson family had been lobbying to legalize gambling in Texas in recent years, Bob comes to the very obvious conclusion that Cuban might be plotting something in that direction. “That means Cuban knows something and he about to put a casino in Texas,” he says. The Adelson family’s advocacy and Cuban’s plan to establish a casino sound uncannily complementary.

So, Bob speculates that this could potentially be the thought behind the deal. The total net worth of the casino industry currently stands at a whopping $329 billion, and Cuban plans on boosting that industry by joining in on the business. Well, whatever the motivations, after getting the green signal from the NBA governors, the deal is set to be finalized by the end of this year.

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Cuban is still controlling the team’s operations

Despite selling off the majority of the share, the deal dictates that Cuban is set to continue having control over the Mavs’ basketball operations. Miriam and the Las Vegas Sands had announced earlier that she would sell about 10% of her stake or $2 billion worth of stock in the casino and resort company, and use the proceeds to purchase a professional sports team.

Taking that their interests align with that of Cuban’s, it becomes very obvious why they are going for the Mavs in this venture. Currently, Miriam stands as the fifth richest woman in the world, according to Forbes.

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Do you agree with Robert Horry’s speculation about the Cuban-Adelson deal? Share your thoughts with us in the comments below!