Mark Cuban, the former owner of the Dallas Mavericks, is ensuring that the team’s employees are well taken care of following the sale of the majority stake in the NBA franchise. He has announced that over $35 million in bonuses will be distributed to the Mavericks’ staff in the near future. This generous gesture comes after Cuban sold his controlling interest in the team for $3.5 billion to new owners Miriam Adelson and Sivan and Patrick Dumont.
Key Takeaway
Mark Cuban’s decision to allocate over $35 million in bonuses to Mavericks employees following the sale of the team’s majority stake demonstrates his commitment to ensuring that the staff is recognized and rewarded for their contributions.
Cuban’s Commitment to Mavericks Employees
In an email to the Mavs staffers, Cuban revealed that the bonuses will be based on a framework that considers the duration of their employment with the team. He also mentioned that the new owners will be contributing to this significant bonus pool. Cuban expressed his excitement about continuing the work to make the Mavericks the leading franchise in all of sports, showing his dedication to the team and its employees.
Transition of Ownership
Despite selling the majority stake, Cuban still retains a 27% ownership in the organization and maintains control of the basketball operations. He explained that his decision to sell was driven by the belief that the new owners could substantially expand the business, leading to exponential growth. Cuban emphasized that having world-class partners who can enhance revenue streams is a significant advantage for the team’s future success.
