Cuban selling majority stake in Mavs

[Moranis]

but is apparently keeping basketball control for the moment.

[Neurotic Guy]

but is apparently keeping basketball control for the moment.

He’s also said next year is his last on Shark Tank. He’s either planning a nice retirement or maybe a change in focus. Politics? 

[liam]

Don't care!

[Kernewek]

I imagine it's pretty hard to say no to $3.5B, especially when you're still 'the head of the team'.

[Surferdad]

but is apparently keeping basketball control for the moment.

I don't see how that would work. I can't see him becoming an employee of the ownership group he sells to.

[smokeablount]

Wonder if he knows something about Luke staying, or not staying, long term.

[gift]

MJ and Cuban suddenly getting out recently. Didn't one of the Milwaukee owners sell or reduce ownership stake recently too?

There are some smart people advising that now is the time to sell?

[tazzmaniac]

Don't understand why someone would pay all that money to buy a team and then leave Cuban in control. 

[Celtics2021]

He’s selling a majority stake, but not all of his stake.  Supposedly he plans to partner with them to build a new arena/casino, and essentially he’ll get a stake in that venture as part of the deal.

He still gets to be the face of the Mavs, but frees assets to do other things too.

[Celtics2021]

Don't understand why someone would pay all that money to buy a team and then leave Cuban in control.

Because they want the investment in a basketball team, which has been a very good one for a long time, but have no desire to run it.  It’s not what I’d do with a few billion dollars (I’d definitely run it), but I don’t have a few billion.

[ozgod]

Don't understand why someone would pay all that money to buy a team and then leave Cuban in control.

Because they want the investment in a basketball team, which has been a very good one for a long time, but have no desire to run it.  It’s not what I’d do with a few billion dollars (I’d definitely run it), but I don’t have a few billion.

Yeah, probably they recognize that Cuban has the institutional knowledge to run a basketball team and they don't and so would prefer to be passive investors. Plus the fact that he still has shares in the team means he still has skin in the game.

[Kernewek]

MJ and Cuban suddenly getting out recently. Didn't one of the Milwaukee owners sell or reduce ownership stake recently too?

There are some smart people advising that now is the time to sell?

Possibly - alternatively these guys have decided they've 'made enough' money and want to spend more of their time doing something else.

I guess that's somewhat unlikely, though.

[ozgod]

MJ and Cuban suddenly getting out recently. Didn't one of the Milwaukee owners sell or reduce ownership stake recently too?

There are some smart people advising that now is the time to sell?

Possibly - alternatively these guys have decided they've 'made enough' money and want to spend more of their time doing something else.

I guess that's somewhat unlikely, though.

Guessing they got offers they couldn't refuse. Lock in the capital gains now.

[Who]

I don't understand buying the team and leaving Cuban in charge. I get it if the team was run well and winning. Don't mess with a good thing. Keep the cash rolling in. But Dallas has been badly run for several years now. Why leave Cuban in charge if he is doing a bad job?

Same thing happened with Charlotte and MJ. Terrible run team. Sold the team. Then let MJ make the draft pick. Why?

[Moranis]

I don't understand buying the team and leaving Cuban in charge. I get it if the team was run well and winning. Don't mess with a good thing. Keep the cash rolling in. But Dallas has been badly run for several years now. Why leave Cuban in charge if he is doing a bad job?

Same thing happened with Charlotte and MJ. Terrible run team. Sold the team. Then let MJ make the draft pick. Why?

I'd guess there is probably a transition period and the new owners will take over at some point in the next couple of years and also have an option to buy the rest of the team.