WFAA recently reported that Mark Cuban reaffirmed his Dallas Mavericks stance. The Mavericks will stay in Dallas, Texas after the Mavericks’ lease at the American Airlines Center expires in 2031. Cuban, 66, is the longtime owner of the Mavericks. The “Shark Tank” star sold a majority stake in the Mavericks to casino magnate, Miriam Adelson, and her family in 2023.
Despite selling a majority stake to Miriam Adelson and her family, Cuban maintains a 27% stake in the Mavericks. He reportedly put the odds of the Mavericks staying at the American Airlines Center, a 23-year-old venue, at “less than 50%.” He announced his latest opinion at a sports economic forum hosted by the Greater Dallas Planning Council on Friday, August 9. He envisioned a new arena as part of a destination casino resort.
Mark Cuban’s Decision to Sell Dallas Mavericks
Mark Cuban sold the Dallas Mavericks for the right reasons. Cuban described his decision to sell his majority stake in the Mavericks as “more of a family decision than a financial one” in his recent interview with interim City Manager Kimberly Tolbert, according to WFAA. The 66-year-old said he wanted to take the pressure off his children and not force them into running the Mavericks when it came time for succession.
Cuban has three children, Alexis, Alyssa, and Jake — born in 2003, 2006, and 2009 — with his wife, advertising executive Tiffany Stewart. The power couple met at a gym in Dallas in 1997 and married in Barbados in 2002.
Mark Cuban’s Plan to Keep Dallas Mavericks in Dallas
The Dallas Mavericks’ lease at the American Airlines Center expires in 2031, but Mark Cuban plans to keep the Mavericks in Dallas, Texas. Cuban said, “We’re not going anywhere.”
Cuban offered a lighter commitment after being asked by the Dallas Business Journal if the arena-anchored project would be within the Dallas city limits. The billionaire entrepreneur responded, “That’s the goal … If something crazy happens, you never know, right? But the goal is definitely to stay within the city.”
Cuban’s plan remains up in the air. But, as of right now, the Mavericks’ new arena could be next to the downtown Dallas Convention Center, the former location of Reunion Arena, which was demolished in 2009, and the Cedars district south of downtown Dallas and I-30.
Mark Cuban’s Consideration of Resort Casino Gaming
There’s more to Mark Cuban’s plan to keep the Dallas Mavericks in Dallas, Texas. Cuban was also intrigued by the ghost of resort casino gambling. The Pittsburgh, Pennslyvania, native said that resort casino gaming “would be phenomenal for Texas” and make the Lone Star State “a top destination for travelers from across the world.”
Cuban partnered with the Adelson family for a reason. The Adelsons have the necessary experience to develop major casino destination resorts, so Cuban could focus on professional basketball and the Mavericks’ other business operations.
Cuban told WFAA, “In order for [the Dallas Mavericks] to be able to compete financially, we had to be able to say what comes next for the arena … Bringing a partner in with the Mavericks really kind of cemented our future. And so you’ll see a lot of enhancements to the American Airlines Center, and you’ll start to see conversations at some point on what comes next.”
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