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A month ago, the families of Miriam Adelson and Sivan and Patrick Dumont announced their intention to buy the club. The value of the purchase is estimated at 3.5 billion US dollars (3.16 billion euros).
It is reported that Patrick Dumont, Adelson’s son-in-law and president of Sands, will be the Mavericks’ manager. Adelson is the widow of casino magnate Sheldon Adelson.
Cuban himself is expected to maintain control of basketball operations and there are no signs that the club will leave Dallas.
Cuban previously said he wanted to work with Las Vegas Sands Corp. work together to build a long-term arena in downtown Dallas that would include a hotel and casino.
The 65-year-old Cuban, who recently announced he was leaving the popular business television show “Shark Tank,” rose to fame after purchasing the Dallas unit in 2000. In 2011, the “Mavericks” won their only NBA championship to date.
“With our commitment and additional investment in the team, we look forward to working with Mark Cuban to continue the team’s success and preserve its legacy in Dallas and beyond,” the Adelson and Dumont families said in a statement.
Casinos are banned in Texas, but Adelson has made no secret of her desire to see casinos allowed in the state.
Last year, she invested more than $2 million in Texas Sands, a political action committee that donated generously to state lawmakers. She donated another million dollars separately to Republican Governor Greg Abbott.
Despite Adelson’s efforts, casino legalization was rejected by the Texas legislature this year.
The Mavericks started this season with 18 wins in 31 games and are in sixth place in the Western Conference.
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