Mark Cuban selling Mavs

[FireFoley]

I find this interesting. I know Cubes loves hoops and owning the Mavs but am wondering if he thinks values have topped out? I say that b/c he sold Broadcast.com to Yahoo at the top of the tech bubble and even noted he thought it was a bubble. He received Yahoo stock for the sale and immediately bought stock options against his stock to hedge his position b/c he was restricted from selling the stock for a period of time. We all know what happened shortly thereafter, but Cubes protected his 2 BIL at the time. Will be interesting to watch

Mark Cuban is selling his majority stake in the Dallas Mavericks to the Adelson family

Billionaire investor Mark Cuban is selling a majority stake of the Dallas Mavericks to Miriam Adelson and her family

www.cnbc.com

 

[URGatorBait]

I find this interesting. I know Cubes loves hoops and owning the Mavs but am wondering if he thinks values have topped out? I say that b/c he sold Broadcast.com to Yahoo at the top of the tech bubble and even noted he thought it was a bubble. He received Yahoo stock for the sale and immediately bought stock options against his stock to hedge his position b/c he was restricted from selling the stock for a period of time. We all know what happened shortly thereafter, but Cubes protected his 2 BIL at the time. Will be interesting to watch

He's selling a majority stake in the team.
He still gets to keep his shares and still maintains complete control of operations

 

[Gatorraid81]

I see he bought the team for 285 million, I'm sure he's going to make billions selling.

 

[Fodderwing]

WTFC?

 

[FireFoley]

He's selling a majority stake in the team.
He still gets to keep his shares and still maintains complete control of operations

He cannot keep his shares if he is selling a majority stake. That is how the buyer gets ownership. He will remain in control of bball decisions but I am guessing that the majority owner can alter that if they do not like the direction?

 

[78]

He's selling a majority stake in the team.
He still gets to keep his shares and still maintains complete control of operations

Almost. He keeps "some" shares and retains control of basketball operations. The goal is to partner with the buyer, Miriam Adelson, owner of the Sands, toward moving the team to Las Vegas. Very unusual deal.

 

[Homer J]

The rich get richer

 

[Gator CPA]

The rich get richer

And keeps me in business

 

[FireFoley]

Almost. He keeps "some" shares and retains control of basketball operations. The goal is to partner with the buyer, Miriam Adelson, owner of the Sands, toward moving the team to Las Vegas. Very unusual deal.

Not surprising that she would want a team in LV, but usually it would be a team that does not draw flies like Charlotte or NO, etc.

 

[78]

I wonder if the end game is to fund a new grandiose arena/casino to house the team.

 

[78]

Not surprising that she would want a team in LV, but usually it would be a team that does not draw flies like Charlotte or NO, etc.

I think they're partners of convenience.

 

[FireFoley]

I wonder if the end game is to fund a new grandiose arena/casino to house the team.

For the longest time, the professional sports leagues did everything possible to avoid having a team in LV. Lately they are tripping over each other to get there asap.

 

[78]

For the longest time, the professional sports leagues did everything possible to avoid having a team in LV. Lately they are tripping over each other to get there asap.

Cuban is an awfully smart guy. He may want out of tying up illiquid capital in a salary intensive NBA team and in on a mega casino cash cow.

 

[FireFoley]

Cuban is an awfully smart guy. He may want out of tying up illiquid capital in a salary intensive NBA team and in on a mega casino cash cow.

Very possible. As I said he sold Broadcast at the dead azz top and had the smarts to hedge his stock.

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwjjrJDchOiCAxU9TDABHZNWBBwQFnoECBUQAQ&url=https%3A%2F%2Fmarkets.businessinsider.com%2Fnews%2Fstocks%2Fhow-mark-cuban-saved-billions-yahoo-windfall-dot-com-crash-2020-6-1029303375&usg=AOvVaw3U8fmyJmCg-bSKJre34U9q&opi=89978449

 

[78]

Very possible. As I said he sold Broadcast at the dead azz top and had the smarts to hedge his stock.

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwjjrJDchOiCAxU9TDABHZNWBBwQFnoECBUQAQ&url=https%3A%2F%2Fmarkets.businessinsider.com%2Fnews%2Fstocks%2Fhow-mark-cuban-saved-billions-yahoo-windfall-dot-com-crash-2020-6-1029303375&usg=AOvVaw3U8fmyJmCg-bSKJre34U9q&opi=89978449

I think he started that thing out of his garage.

 

[FireFoley]

I think he started that thing out of his garage.

The story he told I believe was that he loved hoops as he went to college at Indiana. He wanted to be able to listen to IU basketball games but lived too far from any station broadcasting the games to get reception.

 

[NVGator]

I see he bought the team for 285 million, I'm sure he's going to make billions selling.

3.6 to be exact.

 

[AuggieDosta]

He shoulda soldem when they 1st started kneeling. Woulda made a fortune.

 

[GatorInGeorgia]

I think he started that thing out of his garage.

The story he told I believe was that he loved hoops as he went to college at Indiana. He wanted to be able to listen to IU basketball games but lived too far from any station broadcasting the games to get reception.

He actually didn’t start the company. He told a story, alright, several actually, but it was BS. He actually bought in to a company called AudioNet. He then fcvked over the founder of the company. For the longest time, this douche bag Cuban told people he started Broadcast.com from scratch with his friend Todd Wagener but low & behold things like Google came along where people could search different things quickly and he’s quietly changed his tune with alternate versions and then silence on the true story.

This guy is a first class douche, more lucky than smart and a lying, backstabbing jerkoff. Read the true story and you’ll see what really happened.

 

[GatorInGeorgia]

Cuban is an awfully smart guy. He may want out of tying up illiquid capital in a salary intensive NBA team and in on a mega casino cash cow.

No he’s not. I’ll acknowledge he’s a billionaire but he got lucky as hell. The guy is a lying sack of shyyt, a douche bag and a dirt bag. He’s not nearly as smart as he makes himself out to be.