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Why is Mark Cuban selling the Dallas Mavs?
Mark Cuban is reportedly selling a majority interest in the Dallas Mavericks but will maintain control over the franchise. FOX 4's Dan Godwin shares some of the speculations on why and looks at what it means for the team.
DALLAS - The NBA could approve the sale of the Dallas Mavericks before Christmas.
According to a report in the Dallas Morning News, a meeting is set for Dec. 20 for the league’s board of governors to vote on the deal.
Mark Cuban agreed to sell his majority stake in the team to casino mogul Miriam Adelson and her son-in-law.
Miriam Adelson: What you should know about the Dallas Mavericks reported buyer
Miriam Adelson, the owner of Las Vegas Sands Corp., is the reported buyer of much of Cuban's stake in the Mavericks.
They run the Las Vegas Sands Corp.
They are also reportedly set to buy up the stakes of the Mavs’ five other minority owners.
The purchase is worth a total of at least $3.5 billion.
The billionaire family said it has no interest in moving the team to Vegas or out of North Texas.
Cuban also denied rumors that the pending sale means he's thinking about running for president.
Is Mark Cuban running for president? We asked him about a potential run for office
FOX 4's Mike Doocy emailed the Mavericks owner, asking if he's ruled out a run for political office. Here's what he said.
He has not addressed speculation that the sale is part of his desire to bring a Vegas-style casino and resort to Dallas, along with a new arena for the Mavs.
The transaction will allow Cuban to keep control of the team's basketball decisions.