DALLAS, TEXAS – Mark Cuban, the former majority owner of the NBA’s Dallas Mavericks franchise, surprised team employees on Friday by announcing that more than $35 million in bonuses will be distributed, according to a spokesperson for the team. The news comes after the recent sale of the controlling interest in the Mavericks to the Adelson and Dumont families.
In an internal memo obtained by ESPN’s Tim MacMahon, Cuban expressed his gratitude to the employees for their hard work in making the Mavericks a successful organization. The memo stated that each employee will receive a bonus as a thank-you gesture from Cuban and the Adelson and Dumont families. The total payout of bonuses is expected to be approximately $35 million.
The bonuses were calculated based on the length of time each employee has worked for the Mavericks. The memo assured employees that they would receive their bonuses in the near future. Mavericks spokesperson Alan Rakowski confirmed the details of the memo to CNN.
Last week, the NBA announced the approval of the sale of the controlling interest in the Dallas Mavericks to the Adelson and Dumont families. The sale marks a significant transition for the franchise, as the Adelson family, who are majority shareholders of Las Vegas Sands, have acquired a majority stake in the team. The transaction is estimated to value the Mavericks franchise at around $3.5 billion.
The Adelson and Dumont families expressed their excitement to partner with Mark Cuban and build on the team’s success and legacy. The statement released in November emphasized Cuban’s continued involvement in the franchise, with him maintaining partial ownership and control of basketball operations.
Cuban’s decision to distribute the substantial bonuses to team employees demonstrates his appreciation for their contributions to the Mavericks’ success. This gesture not only rewards their hard work but also strengthens the team’s unity and morale. The news of the bonuses is expected to be well-received by Mavericks employees and the wider basketball community.
In conclusion, Mark Cuban, along with the Adelson and Dumont families, will be distributing over $35 million in bonuses to Dallas Mavericks employees. This move comes after the sale of the controlling interest in the franchise and highlights Cuban’s commitment to acknowledging the team’s hard work and dedication. The bonuses will be calculated based on employees’ tenure with the organization, and details regarding the payout will be communicated to them soon.