Mark Cuban Sells Majority Stake in Dallas Mavericks, Gives $35 Million in Employee Bonuses

Dallas, Texas – Mark Cuban, the billionaire owner of the NBA’s Dallas Mavericks, has sold his majority interest in the team but will continue to oversee basketball operations. However, Cuban plans to give back by offering a $35 million bonus to the team’s employees, according to multiple reports.

Cuban recently sold his majority stake in the Mavericks to the families that operate the Las Vegas Sands casino company for $3.5 billion. In a message to the Mavericks’ employees, Cuban expressed his gratitude for their hard work in making the organization successful and announced the distribution of bonuses.

According to Cuban, each employee will receive a bonus from himself, as well as the Adelson and Dumont families, totaling approximately $35 million. The amount of each employee’s bonus will be determined based on a framework that considers their length of service with the Mavericks.

In addition to this news, Cuban revealed in an interview with the Showtime podcast “All The Smoke” that the upcoming season 16 of the reality TV show “Shark Tank” will be his last. “Shark Tank,” created by Mark Burnett, has been on air for 15 seasons, with Cuban being a popular mainstay on the show.

Cuban’s decision to sell his majority stake in the Mavericks and step away from “Shark Tank” marks a significant transition for the billionaire entrepreneur. However, he remains committed to supporting the Mavericks and expressed his desire to share in the success of the sale by providing substantial bonuses to the team’s employees.

In summary, Mark Cuban, the owner of the Dallas Mavericks, has sold his majority stake in the team and will continue to run basketball operations. As a gesture of appreciation, Cuban plans to give $35 million in bonuses to the team’s employees. Additionally, Cuban announced that he will be leaving the reality TV show “Shark Tank” after the upcoming season 16.