American billionaire Mark Cuban will receive $3.5 billion after the NBA approved the sale of the Dallas Mavericks team to the Las Vegas Sands Corporation casino group, writes AFP.
Dallas Mavericks sold for $3.5 billion
The NBA announced that Patrick Dumont, CEO of Las Vegas Sands Corporation, will become the new owner of the Mavericks. He is the son-in-law of Miriam Adelson, the widow of casino magnate Sheldon Adelson (died 2021) and the company’s major shareholder.
The sale process is expected to take place by the end of the week. According to the American media, Mark Cuban will receive 3.5 billion dollars (3.2 billion euros).
Cuban will retain operational control over the franchise, a majority stake in which he purchased in January 2000 for $285 million (€257 million), News.ro writes.
There is no talk of the franchise leaving Dallas just yet.
Source: Hot News
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