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Mark Cuban agrees to sell majority Dallas Mavericks stake to Dr. Miriam Adelson for $3.5 billion

In addition to selling interest in the basketball team, the Jewish billionaire will reportedly step down from the hit investor reality show “Shark Tank.”

Mark Cuban at the 2013 American Music Awards at the Nokia Theatre, LA Live. Credit: Featureflash Photo Agency/Shutterstock.
Mark Cuban at the 2013 American Music Awards at the Nokia Theatre, LA Live. Credit: Featureflash Photo Agency/Shutterstock.

Mark Cuban, the Jewish billionaire technology entrepreneur, investor and NBA team owner, is poised to make two major changes in his business and public presence.

Cuban has agreed to sell his majority ownership of the professional basketball team the Dallas Mavericks to Dr. Miriam Adelson, widow of Sheldon Adelson, for $3.5 billion. He will reportedly remain heavily involved with the team, presiding over basketball operations and maintaining a minority ownership position. 

The Mavericks are currently 11-6, one of the best records in the western conference. The team won the NBA Finals in 2011, and won its division in 2021. Last year, the Mavericks had a 38-44 record, and did not qualify for the playoffs.

Cuban also announced his intention to step down as one of the investor “sharks,” who considers business and product pitches on the reality television show “Shark Tank.”

Of his departure after a decade, Cuban said, “I just want to have a couple summers with my teens before they go off on their own.” (He added that he loves what the show “represents and how it motivates entrepreneurs around the world.”)

Both Cuban and the Adelson family are Jewish and outspoken supporters of Israel. 

“There’s always going to be people who hate us. Period. End of story,” Cuban said at a recent webinar, organized by Hillel International. “But our lives are not defined by who hates us. They are defined by who loves us and who we love. Because from that comes all of our strength. All of our power.”

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