Clarification on the pending sale of the Dallas Mavericks may be coming quickly.
Multiple outlets have reported that the NBA’s Board of Governors is expected to approve the sale through a vote on Wednesday, officially passing majority ownership from Mark Cuban to casino tycoon Miriam Adelson and her family, although Cuban is still expected to be involved with the team as a minority owner with a role in basketball operations.
The process will not necessarily be a quick one, as a few select members of the board will have to submit their recommendations for the remaining members to approve the sale before moving to an official vote. It will become official if at least 22 of the 29 members vote to approve the deal.
According to The Dallas Morning News, the Adelsons would become the third-richest owners in American sports and leave the team in the hands of Miriam Adelson’s son-in-law, Patrick Dumont, as team governor.
Cuban has owned the team for nearly 24 years but announced his intention to sell his majority ownership stake in the team to the Adelsons for around $3.5 billion last month. As The Dallas Express reported, the sale drove speculation about the future of the team and the potential of legalized casino gambling in North Texas because of the Adelsons’ background and history of pushing for the practice to be allowed in the area.
Both parties quickly dispelled rumors that the team would leave Dallas despite expressing the desire for a new arena, but further speculation came about as it was discovered the Adelsons and the Las Vegas Sands Corporation had purchased a large amount of land in Irving for which its intended use has not yet been revealed.
Regardless, the team will remain at the American Airlines Center until its lease expires in 2031, and the new owners will handle the potential of a new arena once officially approved by the league.
