Rumors circulated this week suggesting a group of investors was interested in partnering with Mark Cuban to buy the Dallas Mavericks. Don’t expect that to happen.
NBA insider Marc Stein reported the development on Monday, but by Thursday afternoon, that speculation has all but certainly died.
In late 2023, Cuban sold his majority stake in the franchise to the Dumont and Adelson families for approximately $3.5 billion. He retained a 27% stake in the franchise and, at the time, claimed he was going to stay on and run the day-to-day operations of the team. As evidenced by the stunning Luka Dončić trade that happened last year, it’s clear Cuban did not, in fact, remain in charge.
On Wednesday, the Mavericks issued a statement refuting any plans for another sale:
The Dumont and Adelson families remain fully committed to the Dallas Mavericks franchise and to the Dallas community. They remain focused on building a championship organization for the long term.
The team is not for sale and the families look forward to expanding their ownership stake over time.
The last part is key. The new ownership group bough 69% of the Mavericks in the 2023 sale, and as a provision of the agreement, they have the right to buy another 20% within the first four years of the deal. That would reduce Cuban’s ownership stake down to 7%.
On Thursday, Cuban told Brad Downsend of the Dallas News, “I get asked fairly often if I would be part of a group if they could buy the team. I tell them all the same thing: I don’t see them selling.”
That should all but wrap up speculation that Cuban will attempt to buy the team back any time soon.
Mark Cuban Dallas Mavericks ownership history
Cuban purchased a majority stake in the Mavericks on January 4, 2000, for $285 million from H. Ross Perot Jr. He rapidly became one of the most visible owners in sports as he made heavy investments in the team and could be seen courtside while taking an active role in franchise management.
Dallas was a perpetual NBA bottom-feeder in the 19 seasons before Cuban took over, posting a winning percentage of .378 from 1980 through the 1998-99 season. He turned the franchise’s fortune around, and the Mavericks won their first NBA title in 2011 on Cuban’s watch, topping the LeBron James-led Heat 4-2 in the Finals behind Dirk Nowitzki.
On December 27, 2023, the NBA approved Cuban’s sale of a majority stake in the franchise to a group fronted by Miriam Adelson and Patrick Dumont. He claimed he earned an estimated $3.5 billion on the sale.
Given his success with the franchise, it’s not surprising Mavericks fans would want Cuban back.
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