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Mark Cuban sells significant stake in Dallas Mavericks for $3.5 Billion

Posted : 29 November 2023

Mark Cuban is divesting a significant portion of his ownership in the Dallas Mavericks to Miriam Adelson, an Israeli-American philanthropist and the mother of Matan, the owner of Hapoel Jerusalem. The transaction involves Adelson acquiring a substantial stake for $3.5 billion. Despite this shift in ownership, Cuban will retain certain shares and maintain a role overseeing all basketball activities within the club. Cuban, who acquired the Mavericks in 2000 for $285 million, is recognized for steering the team to its first NBA championship in 2011.

 

The sale marks a profitable exit for Cuban, known for his involvement in the American "Sharks" program. His tenure as the Mavericks' owner witnessed success, including the historic championship win in 2011 led by Dirk Nowitzki. Cuban has been a vocal and colorful figure in the league, characterized by his unfiltered communication style. Notably, Gal Mekel, the representative of Hapoel Jerusalem's current owners, played for the Mavericks in the past.

 

As the transaction unfolds, Dallas is currently ranked fifth in the Western Conference with a record of 6-10. The team boasts one of the NBA's standout talents, Luka Doncic, who is delivering impressive statistics with an average of 30.5 points, 7.9 rebounds, and 7.8 assists per game. However, the Mavericks have also faced controversy, with the addition of Kyrie Irving, a player known for expressing anti-Semitic and anti-Israel views. Irving's actions, including wearing a keffiyeh during a press conference, have sparked debates and disciplinary actions in the league.

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