Billionaire entrepreneur and former majority owner of the Dallas Mavericks, Mark Cuban, recently opened up about his frustrations following the sale of his stake in the team to the Adelson family in 2023.
In a Facebook comment, Cuban revealed that he had expected to retain control over basketball operations but was ultimately sidelined due to contractual limitations and a change of heart by the new owners.
“I fully expected to run basketball. The NBA wouldn’t let me put it in the contract. They took it out,” Cuban said. “I thought the Adelsons would stick to their word because they didn’t know the first thing about running a team. Someone obviously changed their mind.”
The remarks shed light on Cuban’s disappointment and the challenges of transitioning from majority owner to minority shareholder, a position that has left him with little influence over the team’s decisions—including the controversial trade of Luka Dončić earlier this year.
Cuban’s journey with the Mavericks began in 2000 when he purchased the team for $285 million. At the time, the franchise was struggling both on and off the court, with poor attendance and limited success. Cuban’s hands-on approach and willingness to invest in the team’s infrastructure transformed the Mavericks into one of the NBA’s premier organizations. Under his ownership, the team made multiple playoff appearances, reached the NBA Finals twice, and won its first championship in 2011, led by Dirk Nowitzki.
Cuban’s innovative mindset extended beyond the court. He introduced cutting-edge technology to enhance the fan experience, including high-speed Wi-Fi in arenas and advanced analytics to improve player performance. His outspoken personality and commitment to excellence earned him respect among players, coaches, and fans alike.
In November 2023, Cuban sold his majority stake in the Mavericks to the Adelson family for $3.5 billion. The sale marked a significant shift in the franchise’s ownership structure, with Miriam Adelson, widow of casino magnate Sheldon Adelson, and her son-in-law Patrick Dumont taking the reins. Cuban retained a minority stake and initially believed he would continue to oversee basketball operations, a role he had held for over two decades.
However, Cuban’s expectations were dashed when the NBA prohibited him from including control of basketball operations in the sale agreement. While Cuban trusted the Adelsons to honor their verbal commitment, the new owners ultimately decided to take a different approach, leaving Cuban sidelined.
The change in leadership has led to significant upheaval within the Mavericks organization. The trade of Luka Dončić, a move Cuban reportedly opposed, has sparked outrage among fans and raised questions about the team’s direction. Protests have erupted both inside and outside the American Airlines Center, with many blaming the Adelsons and General Manager Nico Harrison for the franchise’s struggles.
Cuban’s comments reflect his frustration with the situation and his sense of betrayal.
“It’s naive to expect someone to stick to that if it’s not contractual,”
he admitted, acknowledging the limitations of verbal agreements in business.
While his role with the Mavericks has diminished, Cuban’s impact on the franchise and the NBA as a whole remains undeniable.
