@theallinpod: The Two Reasons Why Mark Cuban Sold His Majority Stake in the Dallas Mavericks Last December, @Mark Cuban officially sold a majority stake in the Mavs On the most recent episode of All-In, Chamath asked him why. Mark gave two reasons: 1) The changing landscape of NBA businesses "When I first bought in, in 2000, I was the tech guy in the NBA. I was the media guy." "I had every edge and every angle." "Now, fast forward 24 years later, in order to sustain growth, to be able to compete with the new collective bargaining agreement, you have to have other sources of revenue." "And so you see other teams in all sports for that matter, talking about casinos, talking about doing real estate development." "That's just not me. I wasn't going to put up $2B to get an education on building." "If we're able to build a Venetian-type casino in Dallas with an American Airlines Center in the middle of it, the valuation is $20B." 2) Taking the pressure off of his kids Mark noted that children inheriting majority ownership in a sports franchise has led to bad situations in the past, and he didn't want to put that pressure on his kids. #NBA #dallas #mavericks #casinos #sportsbetting #tech #media #basketball #dallasmavericks #business #news #technology #markcuban #clips #podcast #allin #allinpodcast

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Sunday 06 October 2024 13:54:37 GMT