The NBA Board of Governors is anticipated to approve the Dallas Mavericks’ impending multibillion-dollar sale on Wednesday.
The asking price for the sale would be high, likely close to $3.5 billion.
It would also represent a radical change in the franchise’s past.
Over half of the Mavericks’ franchise history has been under the ownership of Mark Cuban, who acquired the team in January 2000.
However, that would alter if the team’s sale is authorized. Numerous stories stated that Cuban will continue to oversee basketball operations and be a minority owner of the Mavs.
The team’s purchasers, gambling tycoons Miriam Adelson and her son-in-law Patrick Dumont, are a part of the ownership group that controls The Venetian Las Vegas and The Palazzo on the Las Vegas strip.
With an estimated net worth of $33 billion, the Adelson family is the richest sports franchise owners in the country.
After the sale, Cuban has stated that he intends the team to stay in Dallas, but he and the new owners would work to get Texas lawmakers to approve casino gaming.
It is anticipated that the Mavericks will relocate from the American Airlines Center to a newly built arena that will be connected to a casino resort should Texas legalize casino gaming.
The firm that recently bought a roughly 100-acre parcel of undeveloped land along Highway 114 in Irving, close to the location of the historic Texas Stadium—where the Dallas Cowboys once played—is linked to the new Mavericks owners.
What the intended use of that land purchase might be has not yet been disclosed.
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