Dallas Mavericks owner Mark Cuban is reportedly selling a majority stake in the NBA franchise for $3.5 billion (USD) in a deal that would still give the billionaire “operational control of the team.”
Miriam Adelson, the largest shareholder of casino and resort Las Vegas Sands, sold about $3 billion (USD) worth of stock in the company with the goal of buying into a sports team.
The deal values the team at around $5.2 billion (AUD). Cuban paid $428 million for the team in 2000.
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More to come.