There were speculations about Mark Cuban being included in an investment group that was aiming to buy the Dallas Mavericks from the Adelson family. However, a new report threw light on Patrick Dumont and the Adelsons selling the franchise after just two years.
As per Marc Stein of The Stein Line, a source close to the Mavs governor declined the rumors of the Adelson family letting go of the franchise. The Mavericks are not for sale, just two years after the Adelsons of the Las Vegas Sands Corp. acquired the majority stake of the franchise from Mark Cuban in December 2023.
"The Dumont and Adelson families remain fully committed to the Dallas Mavericks’ franchise and to the Dallas community," the source told Stein. "They remain focused on building a championship organization for the long term."
The Adelson family acquired the majority of the Dallas Mavericks from Mark Cuban for a reported $3.5 billion. Cuban retained 27.0% stake in the franchise, but he no longer had the power in decision making.
Mark Cuban on Mavericks' sale rumors
Speaking to Brad Townsend of The Dallas Morning News, Mark Cuban has addressed the rumors about the Mavericks being for sale. Cuban reiterated that the franchise is not for sale, despite local investors possibly putting together a team could get back the Mavs from the Adelsons.
"I get asked fairly often if I would be part of a group if they could buy the team," Cuban said. "I tell them all the same thing: I don't see them selling."
One of the speculated rumors why the Adelson family bought the Mavericks was to help their case in making betting legal in Texas. The Adelson's own casinos in Las Vegas and Macau, and they reportedly teamed up for its own legalization in the state.