Ugh!
https://www.cnbc.com/2023/11/28/miri...orts-team.html
Interesting timing. Wonder why he’s doing this now. Perhaps bargaining agreement-related? Not sure.
The Adelson family is Las Vegas-based. The league obviously wants a team in Vegas. Would they move the Mavs?
I think Cuban has been great for the league. Looks like he’ll remain in charge of basketball operations for the Mavs so that’s good I suppose.
Interesting developments all around.
Ugh!
He also announced that next season of Shark Tank will be his last. Something certainly seems up.
Interesting choice of buyers. As teams get more expensive, the list of potential buyers is getting shorter. Miriam Adelson is 78 so I guess one of the kids is going to be doing this. Looks like it is a real estate play, which seems to be the trend. Those who do not know much about the Adelson's should do some googling.
I'm curious to hear what the actual terms are.
Why are you wasting time here when you could be wasting it by listening to the latest episode of the DBR Podcast?
He wants to built a new arena around a casino/resort in Texas so partnering with the Sands owner makes sense. He's supported legal gambling in Texas for years and it looked like a referendum had a chance this year before it petered out. While it's possible that he's angling for a move to Las Vegas I don't think he or the NBA would do that to Dallas. The other owners must be looking forward to splitting the expansion fee for a new team in Las Vegas. A relocation fee would be nowhere near that sum.
On the radio this morning they said the valuation of the team was 3.5 billion. I'm not sure what he paid originally, but I think it was somewhere around 300 million. I also don't know what portion of the team he owns, so I don't know how much he made, but the given that the sale price was basically ten times what he paid, I think he probably did ok.