NBA Board Of Governors Initiates Process For Mark Cuban To Sell Majority Stake In Dallas Mavericks
Portfolio Pulse from Benzinga Neuro
The NBA Board of Governors has initiated the process for Mark Cuban to sell his majority stake in the Dallas Mavericks. Potential buyers include Miriam Adelson and the Las Vegas Sands Casino family. The Adelson family is selling $2 billion of their Las Vegas Sands Corp stake to finance the purchase of a sports team. Cuban is expected to retain a 25% stake in the Mavericks and continue managing basketball operations.
December 21, 2023 | 5:50 am
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Las Vegas Sands Corp (LVS) is mentioned as the Adelson family plans to sell $2 billion worth of their stake in LVS to finance the acquisition of the Dallas Mavericks.
The sale of a significant portion of LVS shares by the Adelson family could lead to short-term volatility in LVS stock as the market reacts to the potential change in ownership structure and the use of proceeds for the sports team acquisition. However, the impact may be neutral in the short term as the sale could be planned and executed in a way that minimizes market disruption.
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IMPORTANCE 60
RELEVANCE 70