Mark Cuban sells majority ownership stake in Mavs, but there's a catch

Longtime owner Mark Cuban is selling his majority stake in Mavs to physician Miriam Adelson for $3.5 billion, but he is not going anywhere

Outspoken billionaire Mark Cuban is selling his majority ownership stake in the Dallas Mavericks to the families of American and Israeli physician Miriam Adelson (widow of casino magnate Sheldon Adelson) and Las Vegas Sands chief operating officer Patrick Dumont, per Shams Charania of The Athletic and Stadium. The valuation is set for approximately $3.5 billion.

There is a twist, however. Cuban will surprisingly still maintain control of basketball operations. While some fans might not be happy about this massive change in ownership, this could be the perfect deal for the businessman and face of ABC's Shark Tank (just announced he is leaving the entrepreneurial show after next year).

Those engrossed in the world of finance probably caught wind that something big was on the way. Hours before this major news broke, it was revealed that Dr. 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, though.

Mark Cuban bought the Mavs for $285 million back in 2000 and proceeded to oversee its colossal growth. Dallas won its first and currently only NBA championship in 2011, upsetting the star-studded Miami Heat in six games. Cuban could be seen as a polarizing figure outside of the local area, but his fandom and devotion to the team have never been questioned.

Dr. Adelson and Dumont obviously covet a smooth transition and are trusting Cuban to keep a strong basketball product on the floor. The Mavs are 10-6 and currently sit in fifth place in the Western Conference standings. It will be interesting to see how Luka Doncic and the rest of the players react to this bombshell.