{"id":300830,"date":"2023-11-28T19:22:34","date_gmt":"2023-11-29T01:22:34","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=300830"},"modified":"2023-11-29T10:26:33","modified_gmt":"2023-11-29T16:26:33","slug":"miriam-adelson-said-to-be-buying-large-dallas-mavericks-stake","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/miriam-adelson-said-to-be-buying-large-dallas-mavericks-stake\/","title":{"rendered":"Miriam Adelson Using Sands Stock Cash to Buy Dallas Mavericks Majority"},"content":{"rendered":"

Dr. Miriam Adelson will reportedly use proceeds from a $2 billion sale of Las Vegas Sands (NYSE: LVS) equity and cash on hand to acquire what\u2019s believed to be a majority interest in the NBA\u2019s Dallas Mavericks.<\/p>\n

\"Dallas
Dallas Mavericks owner Mark Cuban. He’s reportedly in talks to sell a majority stake in the team to Miriam Adelson. (Photo: Reuters<\/em>)<\/figcaption><\/figure>\n

While the exact percentage of Adelson\u2019s interest in the team hasn\u2019t been revealed, $3.5 billion represents a massive chunk of the $4.5 billion Forbes <\/em>valued the Mavericks at last month. The transaction, which is subject to approval by the NBA\u2019s Board of Governors, would be one of the most unprecedented arrangements in U.S. professional sports history, because it would allow current owner Mark Cuban to maintain day-to-day control of the team he bought nearly 24 years ago.<\/p>\n

Typically when sports franchises change hands, the new majority owners look to make their mark<\/a> on the team, and the previous regime is relegated to smaller roles or ushered out.<\/strong><\/p>\n

News of Adelson\u2019s divestment of $2 billion worth of Sands shares — her first sale since her late husband Sheldon Adelson died in January 2021 — was reported earlier Tuesday<\/a>. LVS said it will repurchase up to $250 million worth of the stock she\u2019s selling.<\/p>\n

Adelson Mavericks Deal Stokes Speculation<\/h2>\n

In the wake of news breaking about Adelson — the richest Israeli and one of the wealthiest women in the world —\u00a0 acquiring a stake in the Mavericks, speculation as to her motivations reached a fevered pitch on social media.<\/p>\n

\n

Some of the conjecture centered on the idea that Adelson could move the Mavericks to Las Vegas, which is unlikely. More probable, though far from a sure bet, is the notion that Cuban could be leveraging the deal as an avenue for bringing a casino resort to the Dallas area. He\u2019s been overt in his desire to do that, noting he\u2019d partner with Sands<\/a> on such a project.<\/p>\n<\/div>\n

It\u2019s also possible that Adelson and the Miriam Adelson Trust simply see investment opportunity in the Mavericks. Sales of U.S. sports franchises are rare, and owing to the small number of teams across the four major domestic sports leagues, such transactions usually fetch massive sums of money.<\/p>\n

For example, the last two sales of NBA teams, the Charlotte Hornets and the Phoenix Suns, commanded $3 billion and $4 billion, respectively. Cuban is sitting pretty. The 65-year-old “Shark Tank” star paid just $285 million for the majority percentage of the Mavericks in January 2020.<\/p>\n

Interesting Tidbits in Adelson\/Mavericks Deal<\/h2>\n

Assuming she becomes the governor of the Mavericks, Adelson will join Houston Rockets boss Tilman Fertitta as the only two NBA owners with majority control of casino gaming companies. Others, including Cuban, have invested in fantasy sports and sports wagering operators.<\/p>\n

\n

The big difference between Adelson and Fertitta is that she\u2019s not involved with day-to-day business at Sands, while he oversees the Golden Nugget casino empire<\/a>. Should the transaction be approved, Adelson would join Jeanie Buss of the Los Angeles Lakers as the only female majority owners of NBA franchises.<\/p>\n<\/div>\n

Another interesting point could be future interactions between Adelson and Mavericks star Kyrie Irving. Adelson is a fierce supporter of Israel and recently excoriated Hamas supporters in an editorial in an Israeli newspaper she owns. Last year, Irving was suspended by the NBA after posting a link on X, then Twitter, to \u201cHebrews to Negroes: Wake Up Black America,\u201d a 2018 film rooted in antisemitism, including Holocaust denial.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dr. Miriam Adelson will reportedly use proceeds from a $2 billion sale of Las Vegas Sands (NYSE: LVS) equity and cash on hand to acquire what\u2019s believed to be a majority interest in the NBA\u2019s Dallas Mavericks. While the exact percentage of Adelson\u2019s interest in the team hasn\u2019t been revealed, $3.5 billion represents a massive […]<\/p>\n","protected":false},"author":46,"featured_media":91187,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,32093,83079,1],"tags":[81903,81966,81033,81967],"acf":[],"yoast_head":"\nMiriam Adelson Said To Be Buying Large Dallas Mavericks Stake<\/title>\n<meta name=\"description\" content=\"Miriam Adelson using Sands stock sale cash to acquire large interest in Dallas Mavericks.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/miriam-adelson-said-to-be-buying-large-dallas-mavericks-stake\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Miriam Adelson Said To Be Buying Large Dallas Mavericks Stake\" \/>\n<meta property=\"og:description\" content=\"Miriam Adelson using Sands stock sale cash to acquire large interest in Dallas Mavericks.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/miriam-adelson-said-to-be-buying-large-dallas-mavericks-stake\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-29T01:22:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-29T16:26:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/10\/s.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"680\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/miriam-adelson-said-to-be-buying-large-dallas-mavericks-stake\/\",\"url\":\"https:\/\/www.casino.org\/news\/miriam-adelson-said-to-be-buying-large-dallas-mavericks-stake\/\",\"name\":\"Miriam Adelson Said To Be Buying Large Dallas Mavericks Stake\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/miriam-adelson-said-to-be-buying-large-dallas-mavericks-stake\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/miriam-adelson-said-to-be-buying-large-dallas-mavericks-stake\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/10\/s.jpg\",\"datePublished\":\"2023-11-29T01:22:34+00:00\",\"dateModified\":\"2023-11-29T16:26:33+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Miriam Adelson using Sands stock sale cash to acquire large interest in Dallas Mavericks.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/miriam-adelson-said-to-be-buying-large-dallas-mavericks-stake\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/miriam-adelson-said-to-be-buying-large-dallas-mavericks-stake\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/miriam-adelson-said-to-be-buying-large-dallas-mavericks-stake\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/10\/s.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/10\/s.jpg\",\"width\":960,\"height\":680,\"caption\":\"Dallas Mavericks owner Mark Cuban. 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