Billionaire Entrepreneur Mark Cuban Reportedly Plans To Hand Over Majority Ownership Of Dallas Mavericks To Adelson Family
Portfolio Pulse from Benzinga Neuro
Mark Cuban is reportedly selling a majority stake in the Dallas Mavericks to Miriam Adelson and her family. Adelson is divesting $2 billion worth of her Las Vegas Sands Corp. (LVS) shares to fund the purchase. Cuban will retain some ownership and manage basketball operations. The sale follows Cuban's announcement of his departure from 'Shark Tank' after the next season.
November 29, 2023 | 4:07 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Miriam Adelson is selling $2 billion worth of LVS shares, approximately 10% of her stake, to finance the acquisition of the Dallas Mavericks.
The sale of a significant amount of LVS shares by a principal shareholder could lead to a short-term decrease in stock price due to increased supply of shares in the market and potential concerns over the reason for the sale.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80