How much did Mark Cuban buy Dallas Mavericks for? Closer look at his profits after selling $3.5 billion majority stake

Dallas Mavericks owner Mark Cuban is selling his majority stake in the team to the Adelson family for $3.5 billion, per The Athletics’ Shams Charania. This marks a massive profit of over $3.2 billion for the businessman, who purchased the team for $285 million in January of 2000.

According to Charania, Cuban will retain his shares in the Mavericks and will remain the team’s controlling owner. So, he will still have a strong presence in Dallas where he has become a fan favorite during his ownership tenure.

According to Bloomberg’s Palmeri and Gillian Tan, Miriam Adelson, widow of casino tycoon Sheldon Adelson, sold $2 billion of stock to make the deal possible. The sold stocks were in Las Vegas Sands Corp, the company she inherited from her later husband.

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How have the Dallas Mavericks fared under Mark Cuban?

Dallas Mavericks owner Mark Cuban

In just under 24 years as owner, Mark Cuban has transformed the Mavericks into one of the NBA’s premier franchises.

Dallas missed the playoffs 10 straight years from 1991 to 2000. However, after Cuban’s arrival, the Mavericks made 12 straight playoff appearances, starting with Cuban’s first full season as owner in the 2000-01 season.

Cuban’s success culminated with Dallas winning its first-ever NBA title in 2011, led by Mavericks legend Dirk Nowitzki.

Dallas has experienced less success since 2012, missing the playoffs on five different occasions, including last season. However, most would agree that the franchise is still set up well for the future. This comes as 24-year-old superstar guard Luka Doncic is under contract until at least the end of 2026.

In total, Dallas has made the playoffs in 18 of Cuban’s 23 full seasons as owner.

Per Forbes, the Mavericks were valued at $4.5 billion as of October 2023, making them the NBA’s seventh-most valuable franchise. Meanwhile, Cuban has a net worth of $6.2 billion.

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