NBA Board of Governors unanimously votes 29-0 approving the majority stake of the Dallas Mavericks to be sold from Mark Cuban to the families of Miriam Adelson and Patrick Dumont.

Dumont, President and Chief Operating Officer of the Las Vegas Sands company, will serve as Mavericks governor. Dumont is the son-in-law to Miriam Adelson.

The day-to-day operations will stay the same as Cuban will become the minority Governor of the Mavericks and have full control of basketball ops. Cuban confirms that he will keep around 27% of the organization after the sale has closed.

“They’re not basketball people, I’m not real estate people. That’s why I did it. I could’ve got more money selling to someone else, obviously I’m really excited, but it’s a great partnership.” Mark Cuban stated on the sale of the Mavericks

Cuban responded on the ability to spend more and enter the luxury tax: “They basically said do what you gotta do, I want to win.”

The Mavericks will now have the third richest sports team ownership in the US, second in the NBA.

1) Steve Ballmer
LA Clippers

2) Rob Walton & Family
Denver Broncos

3) Miriam Adelson – Patrick Dumont Familes
Dallas Mavericks

D Magazine reported there is about 108 acres in Irving that changed hands in July, which has Adelson family as the taxpayer, which sets up Cuban’s long-term plan of having a casino resort / arena as the new home of the Mavericks.

The sell moves the plans forward of the eventual resort/arena, which would take several years to build.

The city of Irving has TRE stations and DART Transit.