NBA
How much of the Dallas Mavericks does Mark Cuban still own? Who is the majority owner now?
Despite selling the majority stake in the team, Cuban still serves as the alternate governor of the Dallas franchise and retains the team’s minority share.
In 2000 American businessman Mark Cuban purchased a majority stake in the Dallas Mavericks. At the time the Mavs were a fairly unappealing prospect, with just one division title in their 20-year history and a win percentage of just 40%.
Since then, however, Dallas has become a real force in the NBA, winning a further four division titles (2007, 2010, 2021, 2024), two conference titles (2006, 2011) and their first-ever championship in 2011. Dallas look well-placed to go deep in the playoffs again this year but have had a major change of ownership.
In December Mark Cuban, who has been credited with helping the team’s dramatic improvement, sold a 73% stake in the Dallas Mavericks to Miriam Adelson and Sivan and Patrick Dumont.
The Adelson and Dumont families are thought to have paid around $3.5 billion for a controlling share of the Mavericks. Cuban retains a 27% stake in the team and remains in charge of the basketball operations.
Why did Mark Cuban sell his stake in the Dallas Mavericks?
The Pittsburgh-born entrepreneur is not short on business ventures. He is the co-owner of 2929 Entertainment, the founder of AXS TV and HDNet and a prolific investor through the television show Shark Tank. He even owns the town of Mustang in Texas, which he bought for $2 million in 2021.
With all that going on, Cuban decided that he need to bring in fresh cash and greater experience to help his forays in the real estate business. The Adelson and Dumont families made their money in casino and hotel businesses and Cuban said that he was excited to bring their skills and experience on board.
“The advantage is what can you build and where and you need to have somebody who’s really, really good at that,” Cuban said when the deal was announced. “Patrick and Miriam, they’re the best in the world at what they do. Literally, around the world. When you get a world-class partner who can come in and grow your revenue base and you’re not dependent on things that you were in the past, that’s a huge win.”