While Mark Cuban has been assured that he’ll retain control of the Mavericks‘ basketball operations department, there’s no language in the sale agreement that will guarantee he’ll keep that role in the future, league sources tell Marc Stein. Brad Townsend of The Dallas Morning News had heard differently from his source.
Cuban is selling his majority stake of the franchise to the Adelson and Dumont families. The transaction received unanimous approval from the NBA’s Board of Governors and is expected to be finalized later this week.
Patrick Dumont will be the new Mavericks Governor, with Cuban the alternate. Cuban will remain a significant minority shareholder (27%) of the team.
Cuban’s position as head of basketball operations may not be formalized in writing, but Stein reiterates that the longtime owner is expected to stay in the role going forward. Stein points out that the parties had been working together for several months to reach an agreement.
“We look forward to working in partnership with Mark Cuban as stewards of this great franchise and bringing another NBA championship to the city of Dallas,” Dumont said in a statement. “We are committed to the long-term success of the Mavericks and delivering a world-class hospitality experience to our fans, players, employees, sponsors and partners.”
Cuban originally purchased his majority stake of the Mavs in January 2000.
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