He has been a proponent of legalizing gambling in Texas, an issue that did not make it out of the state legislature in a biennial session that ended earlier this year.Ĭuban has held a majority stake in the Mavericks since January 2000. She is the widow of casino magnate Sheldon Adelson.Īdelson is the third woman to be the current principal owner of an NBA franchise, joining Jeanie Buss of the Los Angeles Lakers and Gayle Benson of the New Orleans Pelicans.Ĭuban said almost a year ago he was interested in partnering with the Sands. Forbes’ most recent NBA franchise valuations pegged the Mavericks as being worth $4.5bn, the seventh-most valuable team in the league.įorbes has also estimated Adelson, 78, as the fifth-richest woman in the world, controlling $32.3bn in wealth. The Adelson family’s majority stake is valued at a reported $3.5bn.
The transaction is expected to close this week, according to a news release from the league on Wednesday.Īccording to earlier reports, Cuban is expected to maintain control of the Mavericks’ basketball operations.Ĭuban, 65, who recently announced he was leaving the popular business TV program Shark Tank after a 16th season next year, rose to fame quickly after buying the Mavericks in 2000.