Last week, the NBA Board of Governors approved Mark Cuban's sale of his majority stake in the Dallas Mavericks to Dr. Miriam Adelson and members of her family.
While Adelson’s son-in-law, Patrick Dumont, the president and chief operating officer of Las Vegas Sands Corp., will serve as the governor of the Mavericks, Cuban will maintain control of basketball operations. The purchase, which values the Mavericks around $3.5 billion, raises the possibility that former casino mogul Sheldon Adelson’s surviving family members could seek to build a new arena inside a mega casino. Both the Adelson family and Cuban have stated that there are no plans to move the franchise out of Texas.
A high-profile land purchase this week could assuage any concerns Mavs fans might have about an out-of-state move. Cuban confirmed Wednesday that he had sold several properties to the buyers of the Mavs, according to the .
The primary property, a 108-acre plot in the Dallas suburb of Irving, is located across from the site of the former Texas Stadium, which was used by the Dallas Cowboys. The properties, which contain a building used for the Mavs’ practice facility, are valued at $42.9 million for tax purposes, according to the .