Mark Cuban explains decision to sell majority stake in Mavericks
09/16/2024 11:21 PM
Longtime Dallas Mavericks fans have seen owner Mark Cuban courtside for over two decades, influencing other owners like the Los Angeles Clippers’ Steve Ballmer to watch their team play. After years of playoff disappointment, he finally saw Dirk Nowitzki hoist his first Larry O’Brien trophy in 2011, defeating the Heatles in their first year together. In late 2023, Mark Cuban sold his majority stake in the Mavericks, a whopping 73% worth $3.5 billion.
In a recent interview with Wired, Cuban explained his decision to sell his majority stake in a team he has owned since 2000.
“It’s more platforming for the next step,” the Mavs’ longtime owner said in his interview with Wired’s Lauren Goode. “I don’t look at myself and think, ‘I’m a man of a certain age, I’ve got to change what I’m doing.’ No. It’s more like, I like to disrupt things. I like to play the game. I like to compete in business.”
The Mavericks owner sells his stake
Through the sale, former Mavericks owner Mark Cuban handed over his majority stake to Miriam Adelson, represented by her son-in-law Patrick Dumont. Miriam was the wife of billionaire Sheldon Adelson, who established the Las Vegas Sands.
Earlier, Cuban had said that he sold his part of the team because he believed in the possibilities of an NBA team dipping its toes in real estate.
“They’re not basketball people. I’m not real estate people. That’s why I did it,” he said.
However, in the agreement, Cuban retained a supervisory function over the team’s basketball operations. He oversees the team’s president of basketball ops Nico Harrison, whose efforts brought PJ Washington and Daniel Gafford, and drafted Dereck Lively II. These new additions helped the team reach the NBA Finals for the first time since 2011.
Cuban also expressed confidence that Dumont and his team would not hesitate to spend to build the best team possible, surrounding stars Luka Doncic and Kyrie Irving. Now, fans of other teams might feel jealous that the Mavs won’t hesitate to open their wallets to get the best players with the best fit for their stars.
New look
Likewise, the team is proving him correct. The Mavericks acquired Klay Thompson in the offseason, hoping to add a wing shooter to relieve defensive pressure from their two stars.
The addition of Thompson would also open up space for their interior players to feast on the boards or to catch easy lobs from their guards, which was their main weapon in the playoffs.
Still, it remains unclear whether the Splash Brother can still contribute on defense. He’s far from the two-way menace he once was for the Golden State Warriors’ title teams, while Doncic and Irving aren’t exactly known for their defensive effort.
This defensive issue might pose trouble for a Mavericks team looking to make Jayson Tatum’s Finals rematch prediction come true.
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