Billionaire investor and entrepreneur Mark Cuban recently sold a majority stake in the Dallas Mavericks to Las Vegas Sands shareholders Miriam Adelson and Patrick Dumont for an estimated $2 billion. The sale valued the team at around $3.5 billion, although Forbes had previously estimated it at $4.5 billion as of October. Despite the sale, Cuban retained minority ownership and operational control of the franchise. The move was said to put the team in a better financial position, with Cuban admitting that he lacked knowledge in the real estate world that often influences team spending.
The sale of the majority stake in the Mavericks provided a financial boost for Adelson, who is among the world’s richest individuals with a $30 billion net worth. The Mavericks, currently the NBA’s seventh-most-valuable team, had a team value of $4.5 billion as of last October, up 36% from the year before, with an operating income of $83 million. Dallas advanced to the Western Conference Finals after defeating the Oklahoma City Thunder in the Conference Semifinals with a 4-2 series win, marking their second appearance in the Conference Finals in three years.
As the Mavericks prepare to face the Minnesota Timberwolves in the Western Conference Finals, Cuban’s net worth is estimated at $5.4 billion. Cuban, known for his role on ABC’s “Shark Tank,” also co-founded a pharmaceutical company in 2022 and sold his company Broadcast.com to Yahoo for $5.7 billion. The Timberwolves are also experiencing an ownership change, with a dispute between current owner Glen Taylor and potential buyers Marc Lore and Alex Rodriguez, affecting the team’s value. The Timberwolves are worth $2.5 billion, while the Pacers and Celtics, owned by billionaires Herb Simon and Irving Grousbeck, are valued at $2.9 billion and $4.7 billion respectively.
The NBA Finals matchup will feature the winners of the Mavericks-Timberwolves series and the Boston Celtics-Indiana Pacers series. Tickets for potential NBA Finals games in Dallas start at $1,071, with the Celtics and Timberwolves offering tickets for $983 and $2,204 respectively. The Cavaliers are guaranteed home-court advantage if they advance to the Finals against the Pacers, who had the worst regular-season record among the remaining teams. Overall, the NBA playoffs have showcased competitive matchups and exciting games, with billionaire owners like Cuban, Simon, and Grousbeck playing a significant role in the success of their respective franchises.
