The NBA Board of Governors has approved the transfer of controlling interest in the Dallas Mavericks from Mark Cuban to Las Vegas casino magnate Miriam Adelson and her family.
“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,” according to a release issued by the league.
The authorization facilitates Mark Cuban’s transfer of his controlling interest in the Mavericks to the Adelsons.
Adelson’s son-in-law and Sands Corp. COO Patrick Dumont is appointed to lead the Mavs with a 73 percent stake in the organization, per the vote. Cuban will retain 27 percent of the vote and be elected as the interim governor.
Cuban asserts that he will maintain authority over the basketball operations of the team notwithstanding the sale.
