Potential Business Tie Between Cuban and Adelson May Extend Beyond NBA Boundaries
In a significant move, Mark Cuban, the outspoken owner of the Dallas Mavericks, has sold a 73% majority stake of the NBA franchise to the Adelson and Dumont families for approximately $3.5 billion. The deal, which was approved by the NBA Board of Governors in December 2023, allows Cuban to retain a 27% minority share and maintain control over basketball operations.
The Adelson family, who are heavily involved in the casino and gambling industry through their company, Las Vegas Sands, are expected to use their new ownership to push for casino resort projects and gambling legalization efforts in Texas. The family has already shown interest in building a casino resort in the Dallas-Fort Worth area, as they currently do not have any casino resorts in the U.S.
Sports betting is not yet legal in Texas, but efforts to legalize it are ongoing. The legislative session in 2025 is unlikely to pass such laws, partly due to opposition from some lawmakers. However, lobbyists and stakeholders, including those influenced by Cuban's sale to the Adelson family, hope to make significant progress ahead of the 2027 legislative session.
The sale of the Mavericks comes at a time when the NBA is experiencing significant franchise inflation. According to Forbes, the average NBA franchise is now worth $3.85 billion, a 35% increase from the previous year. The sale also comes amidst rising geopolitical tensions, with the NBA being arguably more popular globally than the NFL.
Cuban may reinvest the proceeds from the sale into other ventures, including an online pharmacy he launched last year. There is also speculation that Cuban may be considering a run for the presidency, as he received a call from Chuck Todd, NBC News' chief political analyst, last Wednesday to gauge his interest.
The sale requires a considerable suitability review by the NBA Board of Governors and approval from three-fourths of the league's owners. The deal, if consummated, will be one of the largest in NBA history, valued at $3.5 billion. The sale could provide Cuban with opportunities to partner on a $1 billion-plus privately financed arena, potentially integrating casinos for additional revenue streams.
The transaction also raises questions about changes in the Mavericks' internal culture, with Adelson's influence in the team's operations beyond just ownership being a topic of public and media attention. The opening of any new NBA arena would also be subject to league approval, with the construction or renovation of the arena needing to comply with the NBA's minimum arena standards.
The sale of the Dallas Mavericks to the Adelson and Dumont families signals a growing synergy between the Mavericks franchise and the gambling/casino interests of the Adelson family. This partnership could have long-term impacts on gambling legalization and casino developments in Texas.
- The Adelson family, known for their casino and gambling industry connections, aim to use their new Mavericks ownership for casino resort projects and legalization efforts in Texas.
- In Texas, efforts to legalize sports betting are ongoing, with the Adelson family's influence potentially pushing for progress ahead of the 2027 legislative session.
- Mark Cuban's sale of a 73% majority stake in the Dallas Mavericks to the Adelson and Dumont families has the potential to create a synergy between the Mavericks franchise and the gambling/casino interests of the Adelson family.
- With sports betting not yet legal in Texas, the Adelson family's influence could be significant in facilitating legalization and casino development in the state.
- The sale of the Dallas Mavericks for approximately $3.5 billion marks a significant move in the NBA, especially considering the league's rising franchise inflation and global popularity.
- The Adelson family's casino resort plans for the Dallas-Fort Worth area could be further enhanced if the sale allows Cuban to partner on a $1 billion-plus privately financed arena, potentially incorporating casinos for additional revenue streams.
