Billionaire investor Mark Cuban is selling a majority stake of the Dallas Mavericks to Miriam Adelson and her family — the largest shareholders in Las Vegas Sands , a source familiar with the deal told CNBC.
Adelson is selling $2 billion worth of company stock, or roughly 10% of her stake, according to an announcement from the company.
Las Vegas Sands disclosed in filings Tuesday that it will buy $250 million worth of Adelson's shares.
Owning a sports franchise will be a significant departure from the activities that Miriam Adelson and her late husband were known for.
As a medical doctor, Miriam Adelson is also widely known for her focus on addiction.
Persons:
Mark Cuban, Miriam Adelson, Adelson, Sheldon Adelson, Patrick Dumont, Sands, Miriam, Nikki Haley, Donald Trump, –, Jessica Golden
Organizations:
Dallas Mavericks, CNBC, Cuban, Sands, NBA, Forbes, Vegas Sands, Las Vegas Sands, Republican, Center for Responsive
Locations:
Las Vegas Sands, Cuban, Macao, Singapore, Las, Las Vegas, Israel, United States