The Adelson family has purchased a controlling share in the Dallas Mavericks from Mark Cuban

Mark Cuban, a billionaire investor, is selling a controlling ownership in the Dallas Mavericks to Miriam Adelson and her family. Cuban retains ownership of the team and will oversee basketball operations.

According to a business release, Adelson is selling $2 billion in Las Vegas Sands shares, or around 10% of her holding. The funds will be utilized to purchase a professional sports franchise, according to the gambling corporation. Adelson and her family own the majority of Las Vegas Sands.

Las Vegas, which has become a sports hotspot, has been reported to be a possible NBA club relocation. The WNBA’s Aces play there, and the city will host the NBA’s midseason tournament’s final games.

Forbes ranks Adelson as the world’s fifth-richest woman. When her husband, Las Vegas Sands founder Sheldon Adelson, died in 2021, she and her family acquired 56% of the world’s largest casino enterprise. The Adelson estate’s shares were valued at more than $20 billion at the closing of trading on Tuesday.