DALLAS, Texas — The sale of the Dallas Mavericks is now official.
The NBA approved the sale for controlling interest of the club from Mark Cuban to the families of the Las Vegas Sands Casino Company. The sale is valued in the area of $3.5 billion.
Cuban will remain in control of basketball operations, but Patrick Dumont, president and CEO of the Sands Company will serve as the Mavericks Governor.
Cuban said he made the sale with a vision to grow the Mavericks brand, wanting to bring a resort and casino destination to Dallas.
This hinges on the hope sports gambling becomes legal in Texas. However, it has made little progress making it through the state legislature, in recent years. 37 states and Washington D.C. have some form of legal sports wagering.
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