Mark Cuban To Sell Mavs Majority, Plans ‘Shark Tank’ Exit

It’s been an eventful week for Mark Cuban.

On Nov. 28, news broke from Marc Stein that Cuban plans to sell a majority stake of the Dallas Mavericks to the family of Las Vegas billionaire Miriam Adelson.

The deal requires NBA approval and is being vetted at a league level and would allow Cuban to retain operational control of the team’s basketball dealings.

Cuban purchased the team from Ross Perot Jr. in January 2000 for $285 million. The deal with the Adelson family is based on a franchise valuation of less than $4 billion.

Adelson is the largest shareholder of Las Vegas Sands, which Cuban has previously entertained partnering with to create a new arena “in the middle of a resort and casino.”

Cuban also recently announced that season 16 of Shark Tank will be his last. The show is airing its 15th season.

He told the Dallas Morning News that he’s stepping away from the show to spend “more time with my kids before they get too old and start ignoring me even more than they do now.”

He discussed his departure on Showtime podcast All the Smoke with hosts Matt Barnes and Stephen Jackson.

Despite speculation in response to his two recent announcements, Cuban says he has “no plans” to run for president in 2024.