In a significant shake-up, billionaire entrepreneur Mark Cuban has declared the end of his tenure on the popular ABC series “Shark Tank” and simultaneously made headlines for selling a majority stake in the Dallas Mavericks.
On the “All the Smoke” podcast, Cuban, 65, disclosed that the upcoming season, Season 16, would be his last on “Shark Tank.” Reflecting on his journey, he remarked, “This is our 15th year, and next year, our 16th year, is gonna be my last year. So I got one more year to go.” Cuban, who initially appeared as a guest in Season 2 before joining full-time in Season 3, expressed that he feels it’s the right time to step away from the show.
Despite Cuban’s assurance that Season 16 would mark his farewell, ABC has not officially confirmed his departure.
Simultaneously, in a move that has caught the sports world by surprise, Cuban is selling a majority stake in the Dallas Mavericks. The buyer is Miriam Adelson and her family, with the deal valued at an impressive $3.5 billion, according to league sources. Notably, Cuban will retain shares in the team and maintain full control of basketball operations.
The sale was disclosed through a SEC filing by the Las Vegas Sands Corp., which stated that Miriam Adelson was selling $2 billion worth of stock in the company to fund the majority stake acquisition in the Dallas Mavericks. The Adelson family is expected to utilize additional cash on hand for this significant sports franchise investment, subject to customary league approvals.
Miriam Adelson, the largest shareholder in Las Vegas Sands Corp., inherited the position after the passing of her late husband, casino tycoon Sheldon Adelson. Forbes currently ranks her as the 35th-richest person globally and the fifth-richest woman, with an estimated net worth of $32.3 billion.
The developments around Mark Cuban’s departure from “Shark Tank” and the strategic sale of the majority stake in the Dallas Mavericks have left fans and industry insiders eagerly awaiting the next chapters in both his entrepreneurial and sports ventures. Cuban, known for his business acumen and bold moves, continues to keep the spotlight on him as he navigates these significant transitions in his career.