The valuation of the Dallas Mavericks for the team's looming sale to Las Vegas Sands Corp. is expected to land in the $4 billion range when formally voted on later this month, according to NBA insider Marc Stein.
Outspoken billionaire Mark Cuban is selling his majority ownership stake in the Mavs to American and Israeli physician Miriam Adelson, the widow of casino magnate Sheldon Adelson. The Mavs valuation was initially estimated to be approximately $3.5 billion.
Cuban will still remain the head of basketball operations with the Mavs system. This means that he will still be in close contact with Luka Doncic and Jason Kidd when it comes to whatever happens on the floor and in the front office.
Moreover, he dispelled the rumors that the Mavs were headed to Las Vegas for relocation. They will stay in Dallas for the foreseeable future and he plans to keep it that way. To back that up, he has plans with Sands Corporation, “Coming in to upgrade and hopefully build a new area. This will hopefully be a Venetian-like resort here in Dallas. That's the goal.”
The Adelson family was a strong contender for a Vegas expansion before they bought Mark Cuban’s majority stake on the Mavs earlier in the month.
Hours before this major news broke, it was revealed that Miriam Adelson was selling $2 billion in stock of Las Vegas Sands–her family's casino and resort company–to gain capital towards purchasing a sports franchise. The identity of that franchise was not completely clear at the time of that sale, however.
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