Working for Mark Cuban appears to be a wise investment.
According to multiple reports, the billionaire and erstwhile majority owner of the Dallas Mavericks informed his team’s employees that he would be distributing $35 million in bonuses.
In December of last year, Cuban sold the families who operate the Las Vegas Sands casino corporation his majority stake in the NBA franchise for $3.5 billion. The agreement grants the “Shark Tank” magnate a minority ownership interest in the organization, enabling him to maintain control over basketball operations.
Cuban’s message to employees read, as reported by ESPN’s Tim MacMahon, “Each of you will receive a bonus from me and the Adelson and Dumont families as a token of appreciation for your diligent efforts in shaping the Mavs into an extraordinary organization.” “In total, we will be paying out approximately $35 plus Million Dollars in bonuses to you all.”
The subsequent text states that the compensation will be determined using a “framework that incorporated your tenure with the Mavs.”
The NBA community was taken aback by Cuban’s decision to sell the Mavs, considering his reputation as a basketball enthusiast. He is frequently observed at the courtside during Mavs events.
Cuban’s decision to sell the franchise included the intention of facilitating a partnership that could assist in the development of a new arena and casino in the Dallas-Fort Worth area, specifically targeting downtown Dallas.
