What’s really going on with this Mark Cuban situation?
I’m sure all of us reading this have heard about what is going on with Mark Cuban by now. But in case you’ve been living under a rock, Mark Cuban is selling a majority stake of the Dallas Mavericks to Mirian Adelson and the Adelson Family for roughly $3.5 billion.
Matt already covered the basics of the entire situation, so I won’t go too much into it. But it was certainly a shock to many sports fans and frankly came out of the blue. Cuban hadn’t ever expressed intentions to sell and seemed dedicated to fully controlling the Mavericks.
The whole situation seems bizarre and sudden, which begs the question: Is something much larger also at play behind the scenes?
You don’t have to be a genius to know that something is going on here. I have no idea what it is, but a decision like this isn’t made without something else being at play. Just a year ago, he was talking about building a new stadium casino complex with the Las Vegas Sands. It was supposed to be a grand project signifying his loyalty and dedication to the Mavericks and the city of Dallas. Then, out of nowhere, he wants to sell his majority stake to the woman/family who has the majority stake in the Las Vegas Sands?
The whole situation is crazy and, frankly, confuses me.
But putting aside the business aspect for a second, the decision is still puzzling. Mark Cuban is one of the most active and passionate owners in the NBA, and it’s clear he has a true passion for the team and city.
He bought the team at $285 million when the Mavericks were still considered a smaller market team, but has since turned them into one of the NBA’s most profitable teams worth about $4.5 billion. He transformed the organization, even bringing them their first championship during the 2010-2011 season.
He loved the city, the players, and the fans, which showed during his time as the team’s sole owner, which is why I find it hard to believe he would willingly give up all that control.
Adding to the weirdness of this situation was his sudden announcement that he would be leaving Shark Tank after this season. He has been a mainstay on the show since he joined in 2012 and was arguably the most recognizable of the sharks.
Some outside speculation suggests he could be planning to run for President, which I guess could explain most of this. I mean, a $3.5 billion infusion of cash is sure to be enough for a Presidential campaign. But that still seems like a bit of a stretch.
He’s spoken on this topic multiple times, but never expressed any real desire to run, stating his family had voted it down and that their minds had to be changed before he seriously considered it.
Maybe he knows certain information that’s about to become public. The point is: I don’t fully know what’s going on in Mark Cuban’s mind, but what I am confident in saying is that I don’t think Cuban is just selling so he can make a buck and retire peacefully.
He’s never been that kind of guy, and I don’t see why he would start that now. He always has something on the horizon; hell, maybe that is him running for president. It certainly will be a shock to me. Cuban 2024, anyone?
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