SUMMARY
- Mark Cuban, the former owner of the Dallas Mavericks announces a $35 million bonus for the team's employees as a thank-you for their hard work.
- Cuban's decision to sell the Mavericks is seen as a strategic move, to grow the revenue base and make the team less dependent on past strategies.
Mark Cuban has sent shockwaves throughout the NBA community by selling the Dallas Mavericks. He was the owner of the team for decades and took it to greater heights. Cuban was arguably one of the most popular and renowned NBA team owners. He frequently made it to the headlines for his grand gestures when it came to giving back to the employees, philanthropic efforts, and much more.
Notably, ESPN’s Tim MacMahon took to his ‘X’ account to share a screenshot of a mail sent by Cuban to the Mavericks employees. As per the mail, Cuban, Adelson, and Dumont families will give around $35 million in bonuses to them for their hard work. This wholesome gesture took the internet by storm and fans massively reacted.
Mark Cuban is selling a majority stake of the Mavericks, worth around $3.5B, to casino tycoon Miriam Adelson and the Adelson family, per @ShamsCharania
Cuban will keep shares of the team and full control of basketball operations pic.twitter.com/dlTAGExayq
— Bleacher Report (@BleacherReport) November 28, 2023
Additionally, fans have been wondering why he is selling the Dallas Mavericks especially since he grew it to be valued in billions. Turns out, instead of a loss, it is a huge win for Cuban. Before the Mavericks’ game against Cleveland, Cuban said, “The advantage is what can you build and where and you need to have somebody who’s really, really good at that”.
He continued to explain that Patrick and Miriam (Part of the Adelson and Dumont families who are new owners of the Mavericks) are the best in the world. Cuban said that getting world-class partners who can come and grow the revenue base makes him not dependent on the things that he did in the past. “That’s a huge win.”, the former owner of the Mavericks added.
Mark Cuban bought the Dallas Mavericks for $285 million in 2000
Mark Cuban is an incredible businessman who boasts a net worth of a staggering $6.2 billion. Back in 1995, he and Todd Wagner founded Broadcast.com. Just four years later, they sold it to Yahoo for a whopping $5.7 billion and left everyone impressed. Notably, he is also one of the main sharks in the infamous show ‘The Sharks’ and is the richest among them.
In addition to being a billionaire businessman, he is an investor, TV personality, and Film producer. He debuted in the NBA as a team owner in 2000 by buying the Dallas Mavericks for $285 million. It is amusing how he is selling the team more than two decades later for reportedly $3.5 billion. The significant difference between the amount that he bought it for and the one he sold for is a nod to his hard work.
Furthermore, fans were glad to know that Cuban would still have stakes in the Mavericks. He would reportedly continue to look after the basketball operations. Cuban seems optimistic about it as in his mail to the employees, he said, “I’m excited to continue our work making Mavs the best franchise in all sports.” Fans are waiting to see how this new ownership and their coordination will unfold.