The NBA recently had a historic big deal, with the Dallas Mavericks valued at $4.5 billion, making it one of the largest deals in NBA history. According to reports, the league has officially approved the Mavericks, with the Adelsons and Patrick Dumont as buyers. However, Cuban did not exit completely, he retained a 27% stake in the shares, becoming a minority shareholder of the Mavericks.
Cuban joked that he learned that the transaction was approved by looking at his bank statement. His 23-year career as a big boss is now over, marking the end of an era for the Mavericks. Dumont will replace Cuban as the Mavericks' director of operations and president, with decisions at the basketball level. Dumont is the son-in-law of Miriam Adelson, the richest man in Israel and one of the richest women in the world, as well as the widow of Las Vegas gambling magnate Sheldon Adelson.
Cuban revealed in a December 2022 interview that he wants to move the Mavericks to a new arena located halfway between the resort and the casino. The team is part of a plan that has been in contact for a year, and they also intend to operate a casino in Dallas.
Cuban sold the company he founded to Yahoo in 1999 at a valuation of $5.9 billion, netting him $2 billion. In 2000, he ended with 2$800 million ** bought the Mavericks. Over the past 23 years, the valuation of NBA teams has grown significantly, and the Mavericks' latest valuation has reached $4.5 billion, ranking seventh in the league.
In recent years, NBA team valuations have risen, and several NBA owners** have sold their team shares, including Ishbia's acquisition of the Suns in January 2023 (team valuation) and Jimmy Haslam's acquisition of a 25% stake in the Bucks in February 2023 (team valuation of $3.5 billion). These deals reflect the growing attractiveness of NBA teams as investments.