[Stein] Miriam Adelson’s acquisition of stake in Dallas Mavericks from Mark Cuban potentially paving the way for the construction of a casino within American Airlines Center Arena should Texas ever legalize gambling.

Source: https://marcstein.substack.com/p/breaking-mark-cuban-has-a-deal-in

> Mark Cuban, primary stakeholder of the Dallas Mavericks for nearly a quarter-century and one of highest-profile owners in North American team sports, is selling a significant stake in the franchise to the family of Las Vegas billionaire Miriam Adelson, The Stein Line has learned.

> League sources say that the deal, which requires NBA approval and is already being vetted at league level, would leave Cuban with a stake in the franchise and, most crucially, enable him to retain operational control of the team’s basketball dealings.

> Sources say that Cuban, who bought the team in January 2000 for a purchase price of $285 million, has agreed to sell what is believed to be a majority stake in the club to the Adelson family based on a franchise valuation of less than $4 billion. In Forbes’ most recent compilation of NBA franchise values at the start of the season, Cuban’s Mavericks were listed at $4.5 billion — seventh-highest in the league.

> The unique structure of the agreement, mind you, figures to hold far greater appeal to Cuban than making a deal at a higher franchise valuation, since it is poised to allow him — for the foreseeable future — to function with the same hands-on ownership style he has employed for nearly 24 years.

> A partnership with Las Vegas Sands Corp., furthermore, would bring significant real-estate and casino-gaming expertise to the Mavericks’ organization that he openly lacks. Cuban, who turned 65 in July, has been saying for years that he hopes to someday build a new arena in Dallas with a casino attached — if gambling is eventually legalized in Texas.

by UnbiasedNBAFan_