NBA - NBA Board Of Governors Initiates Process For Mark Cuban To Sell Majority Stake In Dallas Mavericks | Benzinga
The NBA Board of Governors started the procedures for billionaire Marc Cuban to offload his majority stake in the Dallas Mavericks.
What Happened: The board gathered to deliberate on the potential sale of the team, which would keep Cuban in a leadership role, CBS News reported on Wednesday. Potential buyers include billionaire casino owners Miriam Adelson and the Las Vegas Sands (NYSE:LVS) Casino family.
Cuban is lobbying for a new arena for the Mavericks, which he hopes to pair with a casino resort. Currently, casino and sports betting are not allowed in Texas, although there are ongoing attempts to amend this law.
The potential new owners are linked to an entity that has bought over 100 acres of land near the old Texas Stadium in Irving, as Dallas plans to build a new convention center and entertainment district. The possibility ...