DALLAS — Mark Cuban, in a letter to the Dallas Mavericks staff, promised to “stay an active partner” after the NBA Board of Governors approved the sale of the team to Las Vegas casino magnate Miriam Adelson and her family.
Cuban also said in the letter that staff will receive about $35 million-plus in bonuses.
“As a thank you for all your hard work making the Mavs an amazing organization, each of you will be receiving a bonus from myself, and the Adelson and Dumont families,” the letter signed by Cuban read. “In total, we will be paying out approximately $35 plus Million Dollars in bonuses to you all. To calculate your bonus, we used a framework that took into consideration how long you have worked for the Mavs. You will receive your bonus in the very near future. I'm excited to continue our work making the Mavs the best franchise in all of sports!
The NBA Board of Governors approved the sale of Dallas Mavericks to Adelson, her family, and her son-in-law Las Vegas Sands Corp. COO Patrick Dumont, who will serve as the Mavericks’ governor, and his family on Dec. 27.
Cuban's intention to sell the Mavericks came to light in late November.
Adelson is the widow of the late, polarizing figure Sheldon Adelson, who founded the Las Vegas Sands Corporation upon purchasing that city's Sands Hotel and Casino for $110 million in 1988.
She is among the richest women in the world.
As WFAA previously reported, Cuban bought the Mavericks in 2000 for $285 million. The valuation for the team today has been reported in the range of $3.5 billion, although the exact figure Adelson paid Cuban is unclear.