Miriam Adelson Sells Stake in Dallas Mavericks for Billions
Translated & summarized from Mako by baba
Israeli-American businesswoman Miriam Adelson has sold her ownership stake in the NBA's Dallas Mavericks to Sivan and Patrick Dumont, who now control 69% of the team. Adelson had acquired her share for approximately $2.56 billion three years ago. The Dumonts view the purchase as a long-term investment in Dallas and aim to build a new arena and lead the team to championships. The sale price is estimated to be between $2 billion and $3 billion.
The story in 5 lines · by baba
- Miriam Adelson sold her stake in the Dallas Mavericks to Sivan and Patrick Dumont.
- The Dumonts now hold a 69% controlling interest in the NBA franchise.
- Adelson initially purchased her ownership for approximately $2.56 billion.
- The sale is considered a long-term investment in Dallas and its arena.
- The transaction is estimated to be between $2 billion and $3 billion.
Israeli-American businesswoman Miriam Adelson has sold her stake in the NBA's Dallas Mavericks, ending her nearly three-year ownership of the team. The sale was reportedly made to Sivan and Patrick Dumont, who now hold a 69% controlling interest in the franchise. Adelson initially purchased her ownership stake for approximately $2.56 billion.
Patrick Dumont stated that the acquisition represents a long-term investment in Dallas and a commitment to building what he hopes will be the best arena in the NBA. He expressed excitement about the significant investment in the city, aiming to create a new home for the Mavericks for the next 40 years, enhance the fan experience, and inspire the team to win championships. The Dumonts also have the option to purchase the remaining 20% of the team from Mark Cuban.
Dumont acknowledged his respect for Mark Cuban, calling him a "great family friend" and a passionate Mavericks fan who is currently frustrated. He expressed a desire to make Cuban and all Mavericks fans proud by achieving championship success. Dumont has served as the representative owner for the Mavericks over the past three years, overseeing the dismissal of Nico Harrison and the appointment of Masai Ujiri as General Manager.
While the exact sale price was not disclosed, the transaction is estimated to be between $2 billion and $3 billion, reflecting the team's current valuation of around $3.5 billion. This figure is comparable to the amount Adelson paid Cuban for her initial stake.
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