Mark Cuban made a massive profit last year by selling his majority stake in the Dallas Mavericks for $2.7 billion. However, the astounding cash came at a price as the 65-year-old had to trade away his governorship over the franchise. Recently, Brian Windhorst revealed the intricate details of this deal, which put into perspective the awkward position the 65-year-old is currently in.
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During his latest appearance on Pat McAfee Show, Windhorst discussed Cuban’s current position in the Mavs management. He outlined how the latter had lost even the control he expected to have after he sold his majority stake in the franchise.
“He walked away with $2.7 [billion] cash in his bank account…I think his title is ‘Mavericks Proprietor’…They made it up because he is sort of in this awkward situation where he basically helped construct this team without owning it anymore…When he sold the team, he was like ‘I’m still running basketball operations’. I don’t think so, you’re not the governor”.
“Mark Cuban was very distant throughout the Mavericks playoff run..
He still holds a percentage of the team & when he sold the team he said he was still running basketball operations..
I don’t think so & he isn’t the governor”@WindhorstESPN #PMSLive pic.twitter.com/yBQrWJGixf
— Pat McAfee (@PatMcAfeeShow) June 18, 2024
Cuban’s distance from the Mavs roster in the past few weeks spurred on this discussion. Despite being renowned for his enthusiasm on the sidelines, the billionaire was nowhere to be seen during the franchise’s impressive playoff run.
‘Windy’s words helped reveal the entire picture. After selling the 73% stake in the Mavs at a valuation of around $4.5 billion [as per Forbes], Cuban completely lost all administration to the new buyers, Miriam Adelson, and the Dumonts.
Following this, Patrick Dumont, the son-in-law of Adelson, became the team’s governor, restricting Cuban’s authority over the organization.
Despite this, however, Cuban was announced to have a say in the franchise’s basketball operations in the coming years. However, Windy’s comments debunked this promise, as there was no contractual agreement between the parties declaring the same.
So, Cuban’s decision to gradually detach himself from the team becomes justified. After all, the fan-favorite NBA owner made a purely business decision while deciding to sell the franchise. He had undoubtedly weighed his options before eventually letting his acumen dictate his emotions.
That being said, this transition still marked a heartbreaking ending to a marvelous run in Texas. Since taking over a struggling franchise in 2000, Cuban slowly turned things around, even bringing an NBA championship to the city in 2011. For all that he has done, he should undoubtedly be held as a hero by the city of Dallas.
