Mark Cuban sells Mavs for 3.5 billion dollars

[Tetsujin]

https://twitter.com/x/status/1729648507034759400

Vivek “overpaying” for the Kings suddenly even more of a vargain

 

[The_Jamal]

What an insane deal.

"So you're telling me I get to do all the fun things with owning a team, just with a cool 3.5 bill in the bank?"

Damn

 

[pdxKingsFan]

what a weird deal but then again I assume if the Mavs ever went to pre-Cuban levels of bad that deal would change. but very interesting.

 

[Mr. S£im Citrus]

What in the name of Vincent Kennedy McMahon kind of "sale" is that?

 

[Tetsujin]

https://twitter.com/x/status/1729660540262212077

Amazing troll

 

[Capt. Factorial]

What an insane deal.

"So you're telling me I get to do all the fun things with owning a team, just with a cool 3.5 bill in the bank?"

Damn

When they use "valuation", that usually refers to the cost of 100% of shares in the team. A majority stake is more than 50% but he clearly didn't sell it all - so "a cool $1.75B in the bank, minimum" would be more accurate. But I can't imagine wanting to buy a majority of the team without having control of basketball operations.

https://twitter.com/x/status/1729660540262212077

Amazing troll

Well, there IS an almost brand new NBA-quality arena right there on Tropicana.

 

[macadocious]

Also, Vivek only bought 17% of the kings initially. He’s since acquired more, but he was the managing partner shares. So technically Cuban could own 1% and be the managing partner. (It might be 5 or 10% minimum for that, I’m talking out my ass a bit).

 

[pdxKingsFan]

When I worked with AAC 20 something years ago I feel like Mark Cuban's #2 (the guy that I got on a weekly conference call to get yelled at by) had a minority stake in the team himself, so I'm not sure if Cuban owned 100% although it was probably much more than 50%+1 share.

 

[iowamcnabb]

Life is totally fair.

 

[Capt. Factorial]

Life is totally fair.

Ask Mikey! He likes it!

 

[HndsmCelt]

So how long before the Adelson's try to move the team to vegas?

 

[HndsmCelt]

https://twitter.com/x/status/1729660540262212077

Amazing troll

Well it's not far-fetched given the Adeleson's gambling interests

 

[kingsboi]

what percentage of stake did he sell? this is strange, how can you continue to run operations and keep your shares? I'm trying to improve my economics here so maybe someone can fill me in

 

[Section 101]

When they use "valuation", that usually refers to the cost of 100% of shares in the team. A majority stake is more than 50% but he clearly didn't sell it all - so "a cool $1.75B in the bank, minimum" would be more accurate. But I can't imagine wanting to buy a majority of the team without having control of basketball operations.



Well, there IS an almost brand new NBA-quality arena right there on Tropicana.

You left out taxes.

 

[Section 101]

what percentage of stake did he sell? this is strange, how can you continue to run operations and keep your shares? I'm trying to improve my economics here so maybe someone can fill me in

You can sell shares without voting rights. He still has some.

 

[kingsboi]

You can sell shares without voting rights. He still has some.

still doesn't quite make sense to me. if you are selling your team, why do you still have the opportunity to run the operations?

 

[pdxKingsFan]

still doesn't quite make sense to me. if you are selling your team, why do you still have the opportunity to run the operations?

Maybe the guy buying the team thought Cuban was good at it and agreed to keep him on as President or something. He's been a hands on owner for over 25 years, I can see the rationale.

This does happen often with corporate sales and mergers. And things buzz along for 2-3 years but maybe numbers never reach their potential and eventually the former owner now serving as president gets ousted and all kinds of hell comes down with them.

Orrrrr, it works for 2-3 months and you are Vince McMahon.

 

[kingsboi]

Maybe the guy buying the team thought Cuban was good at it and agreed to keep him on as President or something. He's been a hands on owner for over 25 years, I can see the rationale.

This does happen often with corporate sales and mergers. And things buzz along for 2-3 years but maybe numbers never reach their potential and eventually the former owner now serving as president gets ousted and all kinds of hell comes down with them.

Orrrrr, it works for 2-3 months and you are Vince McMahon.

perhaps its a temporary role until said owner finds his own staff?

 

[pdxKingsFan]

perhaps its a temporary role until said owner finds his own staff?

I'm guessing Cuban can run the team as long as they are good.