Marc Cuban offered its majority share of the Dallas Mavericks in early 2024, however did not give a lot details about the transfer. He retained 27.7% of the Mavs whereas pocketing $3.5 billion for the sale of his majority share. So there have been monetary motivations, however he says it goes additional.
Cuban has appeared on quite a few podcasts not too long ago, however was requested about his sale of the Mavs on the “All-In” podcast.
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“After I first purchased [the Mavericks] in 2000, I used to be the NBA technician,” Cuban started. “I used to be the media man. I had all the perimeters and angles. In the present day, 24 years later, to help development and be capable to compete with the brand new collective settlement, we should have different sources of revenue. And so that you see different groups throughout sports activities speaking about casinos, speaking about actual property growth. It is simply not me. I wasn’t going to take a position $2 billion to get a building schooling. If we are able to construct a Venetian-style on line casino in Dallas with an American Airways heart within the center, the valuation could be $20 billion. However I personal 27% of it.
Arenas and stadiums constructed with casinos appear to be an upcoming development. Sports activities betting has by no means been extra standard and is beginning to be legalized in an increasing number of states. Steve Cohen, the proprietor of the New York Mets, is attempting to do one thing related together with his baseball workforce. If Cuban would not really feel succesful sufficient for that, it is sensible to promote the workforce to a Las Vegas household who is aware of it very nicely.
Protecting a bit of the Mavericks if and after they begin constructing these casinos will nonetheless make the Cubans some huge cash. Even when he would not preserve his entrance workplace place as he would love, he nonetheless has his place within the entrance row in each recreation.
He additionally mentioned he would not need his kids to be pressured into possession or need the enterprise to develop into the household enterprise. Nepotism within the entrance workplace is widespread within the NBA, however no less than he is not forcing his household into it if they do not wish to.
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