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 (Twitter link). 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 (via Twitter) 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.
Not in writing means he has no power just a figure head.
Remember when Deandre Jordan gave Cuban his word he was signing with the Mavs over the Clipppers? Should have learned to get everything in writing after that.
He’s there 18 months max in that position. Mark’s popular with the the guys who play for/played for the Mac’s. New ownership want him around long enough so they can build some repor before he moves on.
Sounds like it.
They’re going to need to build a lot of rapport, the new ownership group is diametrically opposed to everything 95% of the players(especially Kyrie Irving) stand for.
Why is he selling majority?
It never made sense that the sale documents would grant the selling (now minority) owner an entitlement to the “governor” position for any significant length of time, if at all. The league by-laws likely wouldn’t accommodate it. If the new owners want Cuban to remain governor, then they can give him a separate written agreement saying so; but, like a coaching contract, it wouldn’t mean they can’t remove him, only that he’ll be paid for its duration.
Kyrie making owners sell too lol
I can foresee just a few problems with the new right wing owners. Mark Cuban seemed like one of the most player friendly owners in the league. Now taking over are people who brought us Donald Trump. Literally his largest donors. The same guy Mark Cuban rallied against for Hillary Clinton.
Money talks louder than your politics friend