Photo: Dorothy J. Gentry
By Dorothy J. Gentry
Sports Editor, Texas Metro News
Dallas Mavericks owner Mark Cuban shocked both the sports and business world Tuesday with the announcement that he would sell a majority stake of the team to billionaire Miriam Adelson and the casino tycoon Adelson family for a reported $3.5 billion.
Adelson is the largest shareholder of the Las Vegas Sands casino.
Cuban will reportedly keep shares in the team and will maintain full control of basketball operations.
The billionaire shark’s announcement that he is selling the Mavs – which he bought in 2000 for $285 million – came a day after he said he would be leaving the popular “Shark Tank” after 16 years.
The Dallas Mavericks won the 2011 NBA Championship. It has previously been reported that the 65-year-old Cuban wants to legalize gambling in Texas and build a casino resort arena.
Cuban was at the Mavs game versus the Houston Rockets Tuesday night but did not immediately address the media.
Stay tuned to Texas Metro News for more on this developing story.
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