(Photo by Christian Petersen/Getty Images)
It’s the end of an era for the Dallas Mavericks.
As reported by Adrian Wojnarowski, the NBA Board of Governors unanimously voted to approve the sale of the majority interest of the Mavericks to the families of Miriam Adelson and Sivan and Patrick Dumont.
In an official press release from the NBA, it was noted that Patrick, who is Adelson’s son-in-law, will now serve as the Mavericks’ Governor.
The NBA Board of Governors approves Dallas Mavericks sale pic.twitter.com/3qimhG00uj
— Adrian Wojnarowski (@wojespn) December 27, 2023
The Adelson and Dumont families currently head the Las Vegas Sands Corporation and received basically no resistance to the idea of them taking a majority interest in the Mavericks.
The exact numbers behind the sale aren’t known but The Dallas Morning News is reporting that the price is roughly $3.8 billion.
According to most reports, that is the biggest cash transaction in NBA history.
Although Cuban is selling a lot of his stake in the team, he’s not getting rid of all of it: the Adelson and Dumont families will now hold 77% of the team, while Cuban will retain 23%.
But he will be involved in other ways too and has publicly stated that he will continue to oversee the Mavericks’ basketball operations.
What does this mean for the Mavericks?
On the surface, not much, and the day-to-day operations of the team will continue with no change.
But in the future, the new owners of the team could make decisions about a new arena or more.
In fact, Cuban, the Adelsons, and Dumonts have reportedly been planning to build a new resort and casino in the Dallas area if gambling is legalized in Texas.
However, no big alterations are expected any time soon so fans of the Mavericks can just enjoy the rest of the season.
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