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Billionaire Mark Cuban quits Shark Tank & sells Dallas Mavericks in space of 24 hours
(www.forbes.com.au)
this post was submitted on 29 Nov 2023
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I wonder if he’s had some awful diagnosis? liquidate everything, free up all your time and be a husband, dad and mavericks gm/president full time. it’s what it would do if I was him in that situation
or getting out while the gettin's good. a lot of TV money is about to dry up.
he didn’t sell the Mavericks completely. He just sold majority stake, so maybe 51%. He’s going to continue running the operations.
So it just sounds to me like the equivalent of a private company going public on the stock market to get massive funding based on a much higher valuation (Mavs worth more than 10x than when Cuban bought it).
Maybe he will use the funds to build a new stadium for the Mavs and generate even more money.
Forbes valuation of the mavericks is roughly 4.5B, so the Adelson stake is probably slightly higher than 51%? Just my take on some quick google research.
Shams said based on the sale the valuation was 3.5 billion
Highly doubt this. He sounds like someone who wants to spend time with family.
Then why’d he want to retain a management position? I’d imagine if he got a terminal diagnosis it’d be the opposite, retain the team (which is a stable asset) and pass management onto someone else. I’m betting he wants to run for office.