Essentially nets 3 bil return on his original investment. Keeps 27% minority ownership of the team. New majority owners are going to build a new arena with casino/hotel complex. Wait another 10-15 years his 27% minority stake will probably be close to equivalent of said sale of team a week ago. Smart business 💯
Naaaah. The franchise was valued at $4.5B then recently $3.5B which was the base value for the team value they agreed on. Cuban was majority owner meaning at least 51% stake. If he has 27% now he sold at least 24%, providing him a sale of $840M. If he had $500M in debt he netted $740M NOBIDY said he's paid off any debt with it. Do the math.
@@cas6811if you buy the business you buy the debt unless debt pay off is part of the deal. The debt wasn’t personally owned. The debt was being serviced
@@cas6811The numbers aren’t exactly clear (and I’m too lazy to google) but the video said that Adelson had to sell $2B in stock to make the purchase. That doesn’t agree with your numbers.
Cuban knows the price of these teams are still at all time highs, but the truth is the league is in a major decline. Selling the top is smart. Tv rating are in major decline.
Tv ratings don't mean anything,the gambling of sports is worth 20 times the entire industry itself,it's all about the bets
8 месяцев назад
@@deanjekic8201 20x... it's proportionate, sure many watch online but there are many (esp in very different time zones) who watch highlights, various montages... Maybe pay to watch game from time to time, or watch it on p2p streaming platform
If the league is in major decline how are the players salaries at all time highs? You have role players, 12th guys on teams making $4M/yr... How can the owners afford such salaries of their league is in decline?
@@BLACK_MikeHammer Both things can be true at the same time, bud. NBA makes money from international TV fees and domestic TV fees have gone as up as well. But since TV viewership has been going down, at some point the fees will as well. That's why the OP is right that it's at a peak. Mark Cuban has alluded to this in the past himself.
because of tv contracts. The is league viewership is in major decline one reason is due to people streaming and not watching cable tv.@@BLACK_MikeHammer
Exactly, as if some random digital content creator has insider information on Mark Cuban's finances. Cuban is taking his billions and going into real estate, hospitality and gambling. He sold to the younger version of himself, Patrick Dumont. Dumont is 45 and married into the Adelman fortune. Sands Corp. is a global player in casino resorts.
He's not really in debt because, like most of the elites, he has stashed the majority of his wealth in offshore corporation tax havens. He shows a loss in the US where he is taxed so he owes little or no tax, while the offshore corporations hold the majoriy of his wealth. Same thing most of the richest families have been doing for a long time.
@@jonq8714 Because you are simple. Mark could pay all his wealth in taxes & you would still be poor. The U.S. would still be 20+ trillion in debt. Let him keep his money.
@@circaen okay bootlicker. You call me simple, but you've been brainwashed into carrying the water for billionaires who wouldn't care if your entire family dies and who are responsible for the destruction of the entire global ecosystem on which we depend. You need to reevaluate your positions because if you don't hold the opinion that people as wealthy as Bezos and Gates shouldn't exist then you're an active participant in our destruction.
He made a more extensive play. Selling the majority of the Mavs to buy in on bringing casinos here will net him way more money than the Mavs can ever get him. The tourism potential is much more than the potential of Mavs. Cuban wins major on this deal. On top of that, a new Universal theme park is going up in the north suburb. Dallas continues to attract many Fortune 500 companies to move headquarters to the DFW area. Two airports and an expanding rail system, and the casino buyer already owns the land where the old Cowboys stadium used to be in Irving. This means that is where the casino will go once the bill is approved. They hope to turn Dallas into Vegas, but with more culture and things to do, it would be closer for those in the Midwest or the East to travel to. Vegas will always be Vegas, just like Atlantic City will always be there; this will be the Midwest version.
Wow this is shocking news to me. The mavs was his baby and life. Great business move on him. He truly is a businessman. He’s always selling something. He did a skit with GQ on things he can’t live without and dude is a born salesman
I met him at the bar I worked at in South Beach after they beat the Heat, he came in with the team, he was very nice. He bought the bar a round of drinks.
I lived in central TX in the 90s when they had Kidd, Mashburn and Jim Jackson and they were still terrible. Like the Wizards now. Cuban is the best thing to happen to them.
Billionaires looking to make more billions while regular folks are hurting for money! That’s a casino, sports books and political move. He got a sweet deal!
I seem to me that Mark Cuban is a pretty smart business man. He was able to do what he loved, which was own a sprots team, while simultaneously increase his wealth. I guess the old saying, "It takes money to make money," is still relevant. 🙂
The NBA brings in over $10 billion in annual revenue with nearly $3 billion in profit. That makes the world's biggest basketball league also one of the world's most profitable sports leagues
Nobody’s watching TV anymore that’s what Mark telling you!! Tv and cell phone streaming are two different things in this industry. Mark cubing is trying to stay ahead of the game.
Well sold in the right time. Just like MJ. You’re old you made your share time to move on. Basketball and sports are dead anyways. Watching mega millionaires put a ball in the basket does not help your life it only wastes it.
The key phrase of this entire video is “they hired a team of lobbyists” and this is how corporate America owns the government and the politicians and why things will never change for the average person because they’re interests are not represented because they have no money This is capitalism out of control.
Nothing in this video tells us why Mark sold. Yes we hear that the Sands wants gaming in Texas... etc. Everybody wants a new arena and casino etc... that does not explain why Mark would sell.
The dude is rolling in dough, he even said he sold it for less than what he could have gotten for it so that it could go to real estate magnates. you're not in debt if your assets far outweigh your liabilities. No one would EVER question his solvency or his excellent balance sheet.
This is wrong lol he’s building a casino so he sold it to one of the top casino owners in the world lol she has political pull in Texas the casino licenses already and he’s still in control of everything basketball…..he literally made 2.5 billion off the 3.5 deal
The reason why he sold a huge stake in the Mavericks, well let’s start with all the billionaires are building bunkers this year for some strange reason and Mark is one of them Mark needs the capital to build his bunker and he has a soft heart so he decided to give his employees bonuses as he know that something will happen to them.
I think he recognizes the NBA for the bubble that it is. Things are headed in a very unsustainable direction. We talking marquee players making over a million a game who might play or might not play and nose-bleed tickets approaching $100 to see the Charlotte Hornets on a random Tuesday. At some point these networks are gonna get caught holding the bag, the demand and revenue isnt going to be there to hold it all up, there will be lockouts and those valuations will plummet.
NBA has been blacked out largely off network TV since Adam Silver came in, yet still in high demand. Players indeed at an overvaluation, because sponsorships will be restructured when all the Gaza meddling is exposed and prosecuted under RICO. Players will have agents not part of what's happening in all sports right now. Sports will deliver news and advertising. For profits. But the local markets will be the beneficiaries and owners will have to cope with morals and ethics clauses, which shall include RICO exposure and 100% forfeiture. It's coming. Americans win again.
Only these people pay for play! Can u imagine giving money to a politician to gain favor and favorable judgment?! This is called bribery! This is a joke! Wake up people these politicians don't give two shytes about any of us!!!
Everything adds up to a presidential run or a midlife crisis. Mark Cuban is leaving Shark Tank and has sold the majority stake in his beloved Mavericks.
The older a person gets, they might not need the spotlight as much!! I have to imagine he loved the attention for years! He is getting older! Maybe he is seeing the light! You can only make so much $$$$%%$ !
