Dallas Mavericks owner Mark Cuban has dominated the headlines this week. Earlier this week, the longtime Dallas owner announced plans to leave ABC's Shark Tank after spending more than a decade on the show.
A day later, Cuban's plan to sell a majority stake in the Mavericks shook the NBA world. Under Cuban's ownership, the Mavericks have turned into one of the most consistently excellent franchises in the NBA.
Cuban purchased the Mavericks for $285 million in 2000. And since the new millennium, the Mavs have reached the playoffs in 18 of 23 seasons.
Mavericks owner Mark Cuban details exciting plans following selling stake of team
This year, the playoffs and a potential deep run seem to be in store for Dallas. The Mavericks sit at 11-6, good for third in the Western Conference. Led by stars Luka Doncic and Kyrie Irving, Dallas rosters two of the most talented players in the NBA.
The $3.5 billion sale surely hinged the Mavericks' past successes and the team's long-term potential. After news of the sale broke the internet, NBC's Newy Scruggs received a few assurances from the Mavericks owner.
Miriam Adelson, who purchased the majority stake, is a billionaire casino magnate. Adelson's son-in-law is the president of the family's Las Vegas Sands company, a hotel and gaming company.
Pending the sale, many fans were curious as to why a Las Vegas-based outfit would purchase the Dallas Mavericks. Rest assured, Cuban confirmed the Mavs will not relocate to Las Vegas.
Additionally, he lamented that he hopes to see a new arena built soon. Alongside a new arena, Cuban is seemingly onboard with legalizing gambling in the state of Texas as he referenced a "Venetian-like" resort in the quote.
Finally, as part of the deal. Cuban remains in control of basketball operations. As of now, it's looking like a win-win for the Mavericks organization.
One of the most passionate owners in all of sports will remain a key component in the decision-making process, while the team will now be backed by a multi-billion dollar entity looking to improve the facilities, media, and infrastructure.
Stay tuned as we'll continue to have you covered on all things Dallas Mavericks and the impending sale.