The NBA Board of Governors has approved the sale of the Dallas Mavericks from Mark Cuban to the families of Dr. Miriam Adelson and Sivan and Patrick Dumont, who run the Las Vegas Sands casino company.
The sale is estimated to be between $3.8 billion and $3.9 billion, making it the largest cash transaction in NBA history.
The Adelson family, known for donating to Republican and conservative causes, has a majority stake in the gambling industry, potentially challenging the prevailing left-wing consensus among NBA leadership. (Trending: Democrat Targets U.S. Troops With New Gun Control Law)
The National Basketball Association wrote, “The NBA Board of Governors has approved the sale of the controlling interest in the Dallas Mavericks from Mark Cuban to the families of Dr. Miriam Adelson and Sivan and Patrick Dumont.”
“Mr. Dumont, president and Chief Operating Officer of Las Vegas Sands Corp., will serve as the Mavericks’ Governor,” continued the statement.
“The transaction is expected to close this week,” added the organization.
“Miriam Adelson, the 78-year-old widow of casino magnate Sheldon Adelson, funded the purchase by selling $2 billion of Sands Corp. stock and using additional cash at hand,” according to Axios Dallas.
Despite this, Cuban will retain control of the team’s basketball operations, and the deal may lead to the construction of a new arena and lobbying for the legalization of gambling in Texas.
According to Reuters, “According to some media reports, Adelson plans to stay neutral in the Republican nominating contest, which kicks off Jan. 15 in the Midwestern state of Iowa, but will likely put money behind the party’s nominee to challenge Democratic President Joe Biden.”
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