1
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
1 points (100.0% liked)
NBA - Main
14 readers
1 users here now
Game analysis, highlights and everything else that is happening in the NBA.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
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
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