It was previously announced that Mark Cuban would be selling his majority stake in the Dallas Mavericks. On Tuesday, NBA insider Mark Stein revealed that Cuban's sale was approved by the other 29 teams in the league.
“Mark Cuban's sale of his majority stake in the Dallas Mavericks to the Adelson and Dumont families of Las Vegas Sands Corp. has been unanimously approved by the league's other 29 teams, sources tell @TheSteinLine,” Stein wrote on X (formerly Twitter).
Cuban's decision to sell the Mavs has sparked a number of various rumors. There was even speculation that Cuban's sale signaled a potential 2024 presidential run. However, it doesn't appear that Cuban will be running for president anytime soon.
Of course, Cuban is still going to have a role with the Mavs. He is expected to maintain control of basketball operations despite the sale. Regardless, Cuban's decision to sell has sparked no shortage of reaction from around the NBA world.
Mark Cuban's time as owner of the Mavs
Cuban, 65, originally purchased a majority stake in the Mavs in 2000. He bought the team for $285 million, and the team's current valuation is a whopping $4 million.
Dallas found success with Cuban as the team's primary owner. The Mavericks reached the playoffs on a fairly consistent basis since 2000, and Dirk Nowitzki led the Mavs to their first championship during the 2011 campaign.
The Mavericks remain in a good position amid Cuban's current sale. Superstars Luka Doncic and Kyrie Irving are currently the leaders of the team, while players such as Dereck Lively, Tim Hardaway Jr., and Dante Exum have stepped up in 2023-24. Dallas projects to be a legitimate contender in the Western Conference once again.
It will be intriguing to see what the future holds as the franchise enters a new chapter in its storied history.
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