Mark Cuban Reveals Two Reasons For Selling the Mavericks

Cuban finally gives some clarity into why he sold his majority share of the Dallas Mavericks

Jan 24, 2024; Dallas, Texas, USA; Mark Cuban of the Dallas Mavericks reacts after the game against the Phoenix Suns at American Airlines Center. Mandatory Credit: Kevin Jairaj-Imagn Images / Kevin Jairaj-Imagn Images

Mark Cuban sold his majority share of the Dallas Mavericks at the beginning of 2024 but didn't give a lot of insight into the move. He still kept 27.7% of the Mavs while pocketing $3.5 billion for selling his majority share, so there were some financial motivations, but he says it goes further.

Cuban has been appearing on many podcasts recently but was asked about his sale of the Mavs on the "All-In" podcast.

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"When I first bought [the Mavericks] in 2000 I was the tech guy in the NBA,” Cuban started. “I was the media guy. I had every edge and every angle. Now fast-forward 24 years later, in order to sustain growth to be able to compete with the new collective bargaining agreement, you have to have other sources of revenue. And so you see other teams in all sports for that matter talking about casinos, talking about doing real estate development. That’s just not me. I wasn’t going to put up $2 billion to get an education on building. If we’re able to build a Venetian-type casino in Dallas with an American Airlines Center in the middle of it, the valuation is $20 billion. But I own 27% of that.”

Arenas and stadiums built with casinos look to be an upcoming trend. Sports betting has never been more popular and is starting to be legalized in more states. Steve Cohen, the owner of the New York Mets, is trying to do something similar with his baseball team. If Cuban doesn't feel he's capable enough for that, it makes sense to sell the team to a family from Las Vegas that is very familiar with it.

To keep a share of the Mavericks if and when they start to build those casinos will still make Cuban a lot of money. While he doesn't keep his front office job like he wanted, he still has his front-row seat at all of the games.

He also said he didn't want his children to be pressured into ownership or want it to be the family business. Nepotism in the front office is common in the NBA, but at least he's not forcing his family into it if they don't want to.

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