Mark Cuban’s Mavericks Sale Brought a 1,100% Return but Buyer Regret
Mark Cuban bought the Dallas Mavericks for $285 million in 2000 and sold the team in 2023 at a reported $3.5 billion valuation. He has said he does not regret selling but regrets who he sold to. The article notes his informal agreement to keep control of basketball operations was not formalized, leaving him without power when the Luka Doncic trade was approved.
Cuban acquired the Mavericks in January 2000 for $285 million. League governors approved the sale on December 27, 2023, by a 29-0 vote. The reported enterprise valuation was $3.5 billion, though other outlets cited different figures. The return was reported as over 1,100%, or more than 12 times. The Adelson and Dumont families acquired 69%; Cuban retained 27.7%. Patrick Dumont became governor.
Cuban expected control of basketball operations through an informal understanding that was not included in sale documents. In 2026, he expressed regret not about selling but about the buyer. He learned the Doncic-to-Lakers trade had already been approved by Dumont when Nico Harrison texted him; Cuban initially thought they were discussing a possible trade.
The episode may shape how fans, investors, and sports executives view control provisions in team sales. Supporters could feel less connected if ownership transitions reduce a familiar leader's influence. Executives may rely more on written contracts rather than informal understandings. For local communities, franchise decisions could affect team identity and civic pride, though financial returns alone may not capture those costs.