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Adelson Family Freed Up $2B To Reportedly Buy Stake In Dallas Mavericks

  • Miriam Adelson is selling off $2 billion of her Las Vegas Sands Corp stock.
  • An SEC filing indicates that Adelson plans to use the proceeds from the sale — in addition to cash on hand — to purchase a professional sports team.
Mark Cuban and Dallas Mavericks.
Jerome Miron-USA TODAY Sports

Miriam Adelson is selling off $2 billion worth of her stock in Las Vegas Sands Corp. — and plans on using it to get into the world of professional sports.

According to The Stein Line, the family plans to buy a significant share of the NBA’s Dallas Mavericks. The report also states Mark Cuban would retain operational control of the franchise. 

According to multiple reports, Cuban is selling a majority stake in the franchise for a valuation in the range of $3.5 billion.

Sands announced the move in a release late Tuesday, with an SEC filing indicating that Adelson plans to use the proceeds from the sale — in addition to cash on hand — to purchase a professional sports team. 

The $2 billion represents approximately 10% of Adelson’s stake in the company, which she inherited after her husband, Sheldon, died in 2021.

According to Forbes, Adelson is the fifth-richest American woman with an over $32 billion net worth.

Cuban has owned the Mavericks since 2000, when he purchased a majority share in the franchise for $285 million.

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