In the aftermath of selling his majority stake in the Dallas Mavericks, billionaire Mark Cuban has disclosed plans to distribute $35 million in bonuses to the team’s employees.
What Happened: Cuban announced the hefty bonus distribution in a gratitude letter to his staff, acknowledging their relentless contributions to the Mavericks’ success, reported Reuters.
Cuban stated in his letter, "In total, we will be paying out approximately $35 plus million dollars in bonuses to you all."
The formula used for bonus calculation considers the length of service of the Mavericks’ employees.
The key shareholders of the casino operator Las Vegas Sands (NYSE:LVS), Miriam Adelson and her family, bought Cuban’s majority stake in November.
Despite ...