Dallas Mavericks proprietor Mark Cuban applauds as Mavericks are launched for an NBA in opposition to the Denver Nuggets on Friday, Nov. 3, 2023, in Denver. Cuban is reportedly in talks to promote his stake within the staff to the Miriam Adelson, widow of Las Vegas on line casino magnate Sheldon Adelson.

David Zalubowski/AP

cover caption

toggle caption

David Zalubowski/AP

Dallas Mavericks proprietor Mark Cuban applauds as Mavericks are launched for an NBA in opposition to the Denver Nuggets on Friday, Nov. 3, 2023, in Denver. Cuban is reportedly in talks to promote his stake within the staff to the Miriam Adelson, widow of Las Vegas on line casino magnate Sheldon Adelson.

David Zalubowski/AP

Dallas Mavericks proprietor Mark Cuban is engaged on a deal to promote a majority stake within the NBA franchise to the household that runs the Las Vegas Sands on line casino, an individual with information of the talks stated Tuesday evening.

The settlement could be within the valuation vary of $3.5 billion and take weeks for the league to course of, based on the individual, who spoke to The Associated Press on situation of anonymity as a result of particulars weren’t being made public.

Cuban would retain management of basketball operations within the deal. NBA reporter Marc Stein was the primary to report the potential sale.

The household of Miriam Adelson, widow of on line casino magnate Sheldon Adelson, introduced earlier Tuesday it was promoting $2 billion of her shares to purchase an unspecified skilled sports activities staff.

Cuban stated nearly a yr in the past he was fascinated with partnering with the Sands. He has been a proponent of legalizing playing in Texas, a difficulty that did not make it out of the state Legislature in a biennial session that ended earlier this yr.

The 65-year-old Cuban, who simply introduced he was leaving the favored enterprise TV program “Shark Tank” after a sixteenth season subsequent yr, rose to fame shortly after shopping for the Mavericks in 2000.

Dallas was one of many worst franchises in professional sports activities within the Nineties, however became among the finest below Cuban, with a variety of assist from star ahead Dirk Nowitzki.

The Mavericks, who gained the franchise’s solely championship in 2011 with Nowitzki main the best way, are value $4.5 billion, based on Forbes journal.