On Wednesday, December 27th, 2023, the NBA’s board of governors unanimously voted to approve sale of the majority stake in the Dallas Mavericks to the Adelson and Dumont families. The Adelson family owns Las Vegas Sands, the leading casino resort company in the entire world, where Patrick Dumont, the Mavericks new team governor, holds an executive position. While Shams Charania reports on X that Mark Cuban sold the franchise within a general range of three and a half billion dollars, as a basketball fanatic and avid lover of his job as face of the Mavs for nearly 24 straight years, why would Cuban make such a substantial decision that few NBA fans were expecting?
The general answer comes from what Cuban both still retains in the organization and what he gains from his new business partners. In a press interview following one of his infamous pre game shootarounds on the American Airlines Center floor, Cuban set matters straight when asked if he would continue to have final say in all basketball related decisions, answering with a head nod and a resounding, “yeah,” because, “it is what I love to do.” While Cuban still holds mostly the same influence that he had previously on basketball operations, the larger change comes on the business side of the organization. When commenting on his relationship with the Adelsons and Dumonts, Cuban confidently stated that, “they’re the best in the world at what they do,” acknowledging their strength of knowledge in various real estate markets, areas that he himself agrees he is, “not good at all,” in. The new owners’ profound success in such marketplaces go hand in hand with the ambitions that Mark Cuban has for a new Mavs arena in the future. Cuban recalled that, “it was 2-3 years ago I started talking about a casino and destination resort… I wasn’t going to be the one to build it,” in reference to the environment that he saw a new Mavs venue to be placed within.
Thus, Cuban’s new business partners seem to fit like a glove with his ambitious plan. However, while it is clear Cuban is happy with the various benefits he has gained from his decision to sell the team, as a passionate member of the Mavs fan base myself, I have mixed feelings about the move. Personally, I have a very strong connection with the American Airlines Center because of the amazing experiences I have had watching Mavs games in the center’s inimitable environment. The team moving towards a venue centered around a massive casino and resort lessens the personal authenticity that being at a historic Mavs arena brings, in turn providing a more commercialized experience with greater outside attractions that distract attention from the game. Meanwhile, I can also see the value in growing the franchise’s capital as the quality of team facilities, merchandise, and fan experience should improve. Regardless, while I am sure Cuban cares about his team’s fanbase, the decision was surely one that was focused more on his financial benefit. All we can do as fans is hope that the team wins, and the organization leads on with respect and care for all who are involved in its future work.
Article that I used: https://www.mavs.com/saleofmavsapproved/
Interview that I used: https://www.youtube.com/watch?v=lsRc_jbuOpk
