The Two Reasons Mark Cuban Sold His Majority Stake in the Mavs
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Episode Description
Full episode: https://youtu.be/o2YT_FwH0VM
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Brief Summary
Mark Cuban sold 75% of the Mavericks to adapt to NBA changes and relieve pressure on his children.
Key points
- Selling the Mavs: A Strategic Move. Mark Cuban explains his decision to sell part of the Mavs to sustain growth.
- Balancing Business and Family. Cuban reflects on how selling eased pressure on his children.
Transcript
why did you sell the Mavs so I sold three quarters of them not the whole thing I still own 27.7% for a couple reasons one when I first bought in in 2000 I was the tech guy in the NBA I was the media guy I had every Edge in every angle now fast forward 24 years later in order to sustain growth to be able to compete with the new collective bargaining agreement you have to have other sources of revenue and so you see other teams and all sports for that matter talking about casinos about doing real estate development that's just not me I wasn't going to put up $2 billion to get an education on building if we're able to build a Venetian type Casino in
Dallas with an American Airlines Center in the middle of it the valuation is $20 billion but I own 27% of that part two is my kids are now 15 18 and 21 and so by selling three4 of it I took all that pressure off of them
