Mark Cuban to sell majority stake in Mavericks to Miriam Adelson, but keep hand in operations: Sources
By Shams Charania, Mike Vorkunov and Tim CatoDallas Mavericks owner Mark Cuban is selling a majority stake of the franchise to Miriam Adelson and her family for a valuation in the range of $3.5 billion, league sources said. Cuban, however, will retain shares in the team and full control of basketball operations.Las Vegas Sands Corp. announced Tuesday in a SEC filing that Adelson was selling $2 billion worth of stock in the company to put towards buying a majority stake in a sports franchise, along with her own cash. This is approximately 10 percent of her stake.“We have been advised by the Selling Stockholders that they currently intend to use the net proceeds from this offering, along with additional cash on hand, to fund the purchase of a majority interest in a professional sports franch...