Dr. Miriam Adelson is reportedly set to acquire a majority interest in the NBA’s Dallas Mavericks, using the proceeds from a $2 billion sale of Las Vegas Sands equity and cash on hand. This move is speculated to be one of the most unprecedented arrangements in US professional sports history, as it would allow current owner Mark Cuban to maintain control of the team he has owned for nearly 24 years.
While the exact percentage of Adelson’s interest in the team hasn’t been revealed, it represents a significant portion of the $4.5 billion valuation the Mavericks had last month. The transaction is subject to approval by the NBA’s Board of Governors. This news comes after Adelson’s divestment of $2 billion worth of Sands shares, her first sale since her late husband Sheldon Adelson died in January 2021. LVS has announced plans to repurchase up to $250 million worth of the stock she’s selling.
The acquisition of the Mavericks by Adelson has sparked speculation about her motivations. Some have suggested that Adelson may move the Mavericks to Las Vegas, while others believe that Cuban could be leveraging the deal to bring a casino resort to the Dallas area. It is also possible that Adelson sees an investment opportunity in the Mavericks, given the rarity of sales of US sports franchises and the large sums of money they typically command.
If the transaction is approved, Adelson will be joining Houston Rockets boss Tilman Fertitta as the only two NBA owners with majority control of casino gaming companies. She would also join Jeanie Buss of the Los Angeles Lakers as the only female majority owners of NBA franchises.
Another point of interest could be the potential interactions between Adelson and Mavericks star Kyrie Irving, given their differing views on Israel. Adelson is a staunch supporter of Israel, while Irving has been embroiled in controversy related to anti-Semitic content.
In conclusion, Dr. Miriam Adelson’s foray into the world of NBA ownership has stirred a great deal of curiosity and speculation, and if approved, it could have significant implications for the future of the Dallas Mavericks.