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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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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