DALLAS (AP) — The NBA has 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 Dr. 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 will be Mavericks governor. He is Adelson’s son-in-law and president and chief operating officer of Las Vegas Sands. Adelson is the widow of casino magnate Sheldon Adelson. Cuban is expected to maintain control of basketball operations. There’s no indication the club would leave Dallas.
(Copyright 2023 WBAP/KLIF 24/7 News. This Report Contains Material From The Associated Press.)
