Every American must have heard of Mark Cuban, the famous billionaire entrepreneur, and media influencer. However, do you know that Mark Cuban is also a basketball enthusiast, and he actually owns a basketball team?
So, what basketball team does Mark Cuban own? What are the reasons behind his buying decision? Don’t skip this post if you want in-depth answers to these questions.
I will give you everything about this famous deal and additional information relating to the basketball team that will fulfill your interests.
Keep reading to see more!
What Basketball Team Does Mark Cuban Own?
The answer is Dallas Mavericks, a professional American basketball team in Dallas city and currently playing in the NBA.
Mark Cuban announced ownership of this team in January 2000, some months before the season started.
At the time, Cuban owned the Dallas Mavericks, and he was already a billionaire after selling his tech company (Broadcast) to Yahoo and making 5,5 billion dollars. The negotiation for this sporting purchase happens in a flash deal.
Dallas Mavericks Squad
How Did Mark Cuban Buy Dallas Mavericks?
Mark Cuban actually attended a game played by the Dallas Mavericks team 6 weeks before he made the life-changing purchase. He thought that he could do much better for the team as its owner.
These facts were revealed when Cuban was interviewed by Chris Paul for the NBA “how I got here.” At the price of 285 million dollars, Cuban realized that he had enough money to purchase the basketball team he loved.
This led to January 2000, when the new NBA season was about to take off. Cuban started the first moves of his purchase by contacting the team owner via mutual acquaintances and feelers.
The deal was successful, and Ross Perot Jr, Dallas Mavericks’ contemporary owner, quickly transferred his shares to Cuban.
Why Did Mark Cuban Buy Dallas Mavericks?
The most obvious reason Cuban chose Dallas Mavericks is that he lived and developed his career in Dallas. Throughout the time he went from scratches to tech billionaire, Cuban was an enthusiastic fan of the Mavericks team.
When watching the team from the bench, he realized that the team would perform much better under his ownership.
At that time, the Mavericks didn’t show consistency in nearly one decade, when the team continuously failed in the playoff.
The team was struggling to hold the fans. Therefore, Cuban wanted to bring Dallas Mavericks fresh air with more sponsorship, wiser marketing, and hope for loyal fans.
Yet, Cuban insisted that his purchase decision was not driven by financial purposes. He has never thought about the deal as a financial investment.
It was the powerful love he devoted to the team of the city where he grew his career. It’s also the pure love for this sport that makes the thought in his mind a reality.
Cuban Bought The Team Because Of His Love For Basketball
More Information About Dallas Mavericks
After many years, the deal proved to be more than successful and marked a life-changing decision for both Mark Cuban and Dallas Mavericks.
In 2022, the estimated team’s value stands at 2.7 billion dollars and ranks ninth on the list of most valuable NBA basketball teams. Under Cuba’s ownership, Dallas Mavericks gradually asserted itself as one of the top franchises in the NBA.
Besides wise marketing and transferring strategies, Cuban also provided huge financial support and media influence for the team. After his purchase, Mavericks frequently got in the playoffs and only failed for 5 in 23 times.
The most noticeable success came one decade after the deal when Mavericks achieved its first NBA championship in 2011.
Consider watching this video for more information relating to the deal.
What Does Mark Cuban Own Now?
Besides Dallas Mavericks, Mark Cuban owns some reputable tech companies and associations like AXS TV, Magnolia Pictures, and many other small startups.
Cuban also invested in some companies like Luminaid and Mahmee.
How Did Mark Cuban Get So Rich?
From a humble working-class background, Cuban built numerous successful tech startups with his knowledge and experience.
However, it’s also his perseverance spirit that drives him to success, and he never gives up in the hardest times.
What Is Mark Cuban’s Best Investment?
Mark Cuban has made numerous successful investments throughout his career.
However, he stated that the $250,000 investment in Cycloramic was his best deal, which ended up giving him $22 million.
How Much Money Did Mark Cuban Make From Shark Tank?
Cuban invested a total of 25 million dollars into 25 startups on Shark Tank but hasn’t seen much profit. There are many unsuccessful startups that cost him a lot of money.
Is Mark Cuban The Richest Man In The World?
Despite owning a huge fortune of $4,7 billion and establishing himself as a billionaire, Mark Cuban is not the wealthiest man in the world. He also doesn’t get in the top ten richest people with Bezos, Gates, and Musks.
If someone asks you what basketball team Mark Cuban owns, it will be the Dallas Mavericks. The purchase has changed the fate of Mavericks and its players forever, opening a decade of more success.
I hope that this post can give you a clearer view of this famous deal and the reasons that led to his decision. Thank you for your precious time!