Why is Mark Cuban selling majority stake in Dallas Mavericks? Possible reasons explored

Reports have surfaced that Dallas Mavericks owner Mark Cuban decided to sell a majority stake of the team to the Adelson family, headed by Miriam Adelson. Even when the Adelsons get the majority share of the Mavs, Cuban is still expected to have control of the franchise.

Forbes valued the Mavs at $4.5 billion and that pushes the franchise to be the seventh highest in the NBA. Now the fifth-richest woman in the world, Miriam Adelson inherited a majority share of Las Vegas Sands in 2021.

In 2000, Mark Cuban bought the Dallas Mavericks for $285 million and has expressed his intent to move the team to a new arena. This projected move is ideally integrated into a resort or casino.

It is seen that the partnership with Las Vegas Sands and Miriam Adelson will help align with Cuban's vision of profiting from sports betting and casinos that are illegal in Texas. The Dallas Mavericks currently play their home games at the American Airlines Center.

Why is Mark Cuban leaving Shark Tank?

Mark Cuban, outside of being a businessman, made his mark on television as part of the entrepreneurship show 'Shark Tank'. Now in its 15th season, Cuban announced that next season will be his last.

There are a few reasons why Cuban departed from the show after 12 years and he later explained that he wanted to dedicate more time to his family. Owning a net worth of $6.2 billion, Cuban has invested over $20 million in 85 deals in 111 episodes of 'Shark Tank':

"I have three kids, 14, 17, and 20. They are getting close to that age when they will be on their own," Cuban writes on an email. "I want to try to have my summers to spend family time with them before they want to talk to me even less than they do today."

Reflecting on his time on the show, Cuban felt they did their part by teaching entrepreneurship and has inspired many people from different backgrounds:

"I feel like in doing Shark Tank all these years, we've trained multiple generations of entrepreneurs that if somebody can come from Iowa or Sacramento or wherever, and show up on the carpet of Shark Tank and show their business and get a deal, it's going to inspire generations of kids."

Mark Cuban's departure from Shark Tank marks the end of an era in which he had played a significant role since the show's second season.