Mark Cuban speaks on selling majority stake of the Dallas Mavericks

Mark Cuban speaks on selling majority stake of the Dallas Mavericks

You know and their ability to build and to redevelop the arena and whatever comes next beyond that just puts us in a much better position to compete that’s all that’s what it comes down to you don’t feel any different coming to the Arena tonight is not the majority on

Sucked um same um hey 65 and I’m still out there shooting that’s all that matters um but nothing else really changes what what exactly is the agreement in terms of uh basketball operations is there contractual language no because you don’t do that in a you just don’t right and you so no

There’s no contractual language that’s not part of right so there’s like I bought like when I came in and bought the mths there were no changes in contracts no contracts it was all just basically the same right so’s no here but there’s a there’s essentially a handshake agreement a gentleman’s agreement thing

Oh it’s a partnership right s about that a partnership right they’re not basketball people I’m not real estate people that’s why I did it I could have gotten more money on to somebody else even though like I mean you know obviously I’m really excited about everything but this was a great

Partnership I’ve known these guys for a long time um they’re great at the things I’m not good at all the things I’ve said before and and why was being able to keep control of basketball operations to be able to continue running that side of

The what I love to do right but the also I’m also a realist and I also self-aware right I know what I’m good at when I first bought the team I knew more about the technology and the internet and all the streaming and everything anybody

Else in the NBA and so I had a real advantage of it now all that you know 23 24 years later that’s not the advantage anymore now you see other teams doing you saw what the wizard just did right the advantage is what can you build and

Where and you need to know have somebody who’s really really really good at that and Patrick and Miriam they’re the best in the world what they literally around the world and so when you get a world class partner who can come in and grow your Revenue base so you’re not

Dependent on the things that you were in the past that’s a huge huge win and you know they’re good people they’re committed to Dallas they’re you know committed to winning they’ve got Great Hearts I mean like I said I’ve known them forever it was a great partnership

Two or three years ago you said hopefully own the MS another 40 years what what changed yeah I mean media companies are going out of business right they’re consolidating um you know the that world’s changing and so what went from an advantage was not so much an

Advantage anymore so you know it was always okay I wanted to build you know and then it was 2 three years ago I started talking about a casino and and you know destination Resort and I knew and I told you guys then I wasn’t going

To be one to build it right but as you know as makes sense if someone’s going to come in as a partner and invest potentially billions of dollars they’re going to want Equity how does this benefit the basketball product it’s another base of Revenue that wasn’t

There before I mean you know there’s you know I’ve always I’ve never really focused on that side of things at all you know you guys you know business side is the business side as long as we were decent you know um and S has done a

Great job um then I was happy and you know losing money was like part of the drill but it just changed you know you know your largest revenue Source goes away you know and you guys know how the media landscape has changed you know it’s not long before AI is going to be

Just I’m still staying baby I just had to give you I called that a long time ago um and ain’t got me I know but you know what I’m um I just like fck but um so all that changed and um to get be able to get the best of both worlds with

A great partner um is that doesn’t come along all the time and it’s better to be ahead of it than be behind the c is it still your belief that a a new Arena will be built in Dallas or that sure in in Dallas City Limits yeah proper proper

Okay all right hiring and firing of coaches free agents you’ve always had the final say in that you’ll still have that yeah unless we’re going to go hire somebody that costs $300 million a year yeah you know you don’t you won’t have to go through Patrick for all that stuff

You make those decision so Mark what happens in two years if the Addison family doesn’t like how the basketball’s going I mean it’s like anything else I guess they’d have final say for sure um he’s the governor but you know it’s not like I have a contract in a job and I

Get a salary you know so you know I’m sure we would work it out do you have any sense when they made come to a game to fans um at some point in January talking about coming to a game now how how will decisions in terms

Of like luxury tax and and basketball bu basically said just do what you got to do I want to win you know so and that’s your message to the fans yeah sure I mean we’re financially we’re in a far better position this afternoon than we were yesterday afternoon to be able to

Compete like that so um what did um um chman say about being a middle class billionaire you know those are facts in this day and age you know it it really matters and so having you know the partnership and having you know eventually new and deeper Revenue

Sources allows us to compete better and you know tox PCT a lot um Mar they’re they’re committed to winning has the money actually hits your bank account are you still a middle- class billionaire relatively speaking Yeah Yeah but I still won 27% right and those of you who watch Shark Tank on Friday

Nights on ABC know I say all the time that you know from this particular case um 27% of a watermelon is a whole lot better than 77% of a gra and so I think you know the value of the asset went up significantly um so from that side it’s

Really really good for me but I think again from the fan side it’s it’s a huge plus I mean you know they’re committed to the city they’re you know that just I feel really confident and comfortable right it’s not like okay we’ll see what happens it’s

Not the way I feel at all I mean they’re not trying to come in like I came in I was I wanted to be a basketball person right I you saw me out here hooping and this stuff that’s not them I mean they you know I wanted to be the tech guy and

I raised hell on Tech Tech ology and changing all that that’s not that you know your version of impact is going to be you know creating that destination that hopefully changes tourism in Dallas and Texas forever I mean and that’s a huge impact and being part of an

Organization like that that gives you a foundation financially I mean if you you look at the teams that can spend the most money right now it’s not because of their media deals you know it’s because of the real estate Empires that they’ve built around there that they just that I

Don’t have and I have no knowledge that at all and I you know it’s been hard enough learning the pharmacy and basketball business let alone trying to learn real estate as well I’m just not prepared to do that how active will you be in trying to get gambling legalized

In Texas as active as I need to be because I think it’s the right thing for the State of Texas right I think when when you know honestly I don’t care so much about sports betting that really is in a ton of interest to me I don’t want

To speak for maram and Patrick and saan I’ll let them speak for themselves but if you know if you look at destination Resort Casinos the casino part of it is tin right relative to the whole bigger the bigger um destination aspect of it and could you imagine building you know

The Venetian in Dallas Texas that would be insane that would just change everything having somebody like you two or whoever you know pick a pick a big band or act that’s in here as a residence that’s insane right I mean and I think that that type of impact is the

Equivalent of what we tried to do in technology back in 2000 back 24 years ago this is happening at the same time roughly that you’re stepping away from Shark Tank you’re not growing weary of the spotlight are you

Mark Cuban talks to media about selling majority stake of the Dallas Mavericks to Miriam Adelson – Patrick Dumont families.