The high-profile billionaire says that's why he sold his majority stake in the
The NBA on Wednesday approved Cuban's sale of a controlling interest in the Mavericks to the Adelson and Dumont families, who run
The deal was approved just shy of a month since
Cuban will be the alternate governor with a 27% stake in the club and will maintain control of basketball operations. He made it clear there were no plans for the franchise to leave Dallas.
“The advantage is what can you build and where and you need to have somebody who’s really, really good at that,” Cuban said before the Mavs' game against Cleveland on Wednesday night. “Patrick and Miriam, they’re the best in the world at what they do. Literally, around the world.
“When you get a world-class partner who can come in and grow your revenue base and you’re not dependent on things that you were in the past, that’s a huge win,” Cuban said.
“Through our commitment and additional investment in the team, we look forward to partnering with
Cuban said when he bought the Mavericks in 2000, he had the advantage of understanding technology. He became a billionaire when the radio internet streaming company he co-founded was bought by Yahoo.
Now, the future of media rights deals is in question.
Cuban said the sale makes revenue from media rights deals much less of a concern for the Mavericks.
“Financially, we’re in a far better position this afternoon than we were yesterday afternoon to be able to compete like that,” Cuban said.
The 65-year-old insisted he would have final say in the hiring and firing of coaches, and the signing of free agents, “unless we’re going to go hire somebody that cost
And Cuban said spending to keep the team competitive won't be an issue with
“He basically said, ‘Just do what you’ve got to do. I want to win,’” Cuban said.
Gambling isn't legal in
She pumped more than
But the spending blitz failed to deliver a breakthrough this year in the
Asked how active he would be in trying to get gambling legalized in
“Honestly, I don’t care so much about sports betting,” Cuban said. “If you look at destination resorts and casinos, the casino part of it is tiny, relative to the whole bigger destination aspect of it. Could you imagine building the Venetian in
Dallas was one of the worst franchises in pro sports in the 1990s but turned into one of the best under Cuban, with a lot of help from star forward
A self-professed basketball junkie who graduated from
“It’s a partnership,” Cuban said. “They’re not basketball people. I’m not real estate people. That’s why I did it. I could have gotten more money from somebody else. I’ve known these guys for a long time. They’re great at the things I’m not good at.”
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