NBA approves sale of Dallas Mavericks to families that run Las Vegas Sands casino company [View all]

Source: Associated Press

NBA approves sale of Dallas Mavericks to families that run Las Vegas Sands casino company

BY SCHUYLER DIXON
Updated 4:59 PM EST, December 27, 2023

DALLAS (AP) — The NBA on Wednesday approved the sale of controlling interest of the Dallas Mavericks from Mark Cuban to the families that run the Las Vegas Sands casino company.

The deal was approved just shy of a month since the families of Miriam Adelson and Sivan and Patrick Dumont announced their intention to buy the club. The purchase is in the valuation range of $3.5 billion.

Patrick Dumont, Adelson’s son-in-law and president and chief operating officer of the Las Vegas Sands company, will serve as Mavericks governor. Adelson is the widow of casino magnate Sheldon Adelson.

Cuban is expected to maintain control of basketball operations, and there’s no indication the club will leave Dallas.

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Read more: https://apnews.com/article/dallas-mavericks-sale-mark-cuban-adelson-f2dff76f286d79a4be0708f7a929b5ce