Mark Cuban starts company investing $750 million to own sports franchises, including NBA teams

While Mark Cuban is still a minority owner in the Dallas Mavericks, the franchise's former majority owner has now joined a group known as Harbinger Sports Partners looking to secure minority stakes in NBA, NFL and MLB teams.

Front Office Sports broke the news on Thursday morning, indicating that the fund, which includes Venture Capitalist and Shark Tank guest investor Rashaun Williams, will look to invest $750 million in teams playing in the aforementioned leagues.

The goal, according to FOS, is to target investments of ~5%.

According to a separate report from Sportico, which included quotes from Williams, Harbinger Sports Partners is aiming to invest between $50-$150 million into 15 different teams.

Thanks to new regulations that allow private equity firms, like Harbinger Sports Partners, to invest up to 10%, Cuban's pro sports portfolio is about to become much more diverse.

Williams was quoted by Sportico as saying:

"We’re at the very early innings in how we view investing in sports ... As we go from sports 1.0 to 2.0, we see teams moving from ticket and sponsorship sales organizations to media companies and even finding new revenue sources locally to grow revenue.”

So far, no word yet on when the group will make its first investment.

Mark Cuban's final episode of Shark Tank set to air on Friday

While Mark Cuban is preparing to invest in a number of pro sports teams as part of Harbinger Sports Partners, he's also notably preparing to step away from Shark Tank, the hit investing show he's been a part of for more than a decade.

Cuban first appeared on the show as a guest investor (known on the program as a Shark) in 2011 during the second season. Cuban then went on to join the show as a permanent cast member and investor the following year.

Since then, he's invested in a number of products over the years, while also helping fuel a ratings boom for Shark Tank.

Despite that, in 2023, Cuban announced that he was going to be stepping away from the show to spend more time with his family.

In turn, he wound up selling his majority stake in the Dallas Mavericks to the Adelson family, taking on a minority role that's seen him step back from the day-to-day dealings over the franchise.

Now, after more than a decade serving as a Shark, Mark Cuban's final episode of Shark Tank will air on Friday.