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Mark Cuban Sells Majority Mavericks Stake to Adelson Family In NBA stunner

via Yahoo Finance on Youtube
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Mark Cuban has agreed to sell a majority stake in the Mavericks to Miriam Adelson for approximately $3.5 billion, while retaining a minority stake and control over basketball operations.

This comes as a surprise, as the Mavericks have been closely associated with Cuban.

Cuban reportedly purchased the team for $285 million in 2000. (Trending: Biden Shamefully Removes God From National Address)

The Mavericks have competed in the playoffs in all but six of the years that Cuban has owned the team.

The Mavs won the NBA Championship in 2011.

Miriam Adelson, the wife of late casino magnate Sheldon Adelson, is also selling $2 billion in shares of Las Vegas Sands Corp. to fund the purchase.

There are plans for Cuban and Sands to partner in a casino and arena venture in Dallas if gambling becomes legalized in Texas.

There have also been rumors circulating about Cuban preparing for a presidential run.

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