LM Otero/AP
Mark Cuban on the sidelines of the Mavericks' game against the Los Angeles Lakers on December 12, 2023.
CNN –
Mark Cuban, who recently sold a majority stake in the NBA's Dallas Mavericks franchise, surprised Mavs employees on Friday when he told them the team would be handing out more than $35 million in bonuses, a spokesman for the said Teams told CNN Sports.
In an internal memo received from ESPN's Tim MacMahonCuban said to team employees: “As a thank you for all of your hard work in making the Mavs a great organization, each of you will receive a bonus from me and the Adelson and Dumont families.
“In total, we will pay you all about $35 plus millions of dollars in bonuses,” Cuban continued. “To calculate your bonus, we used a framework that takes into account how long you have worked for the Mavs. You will receive your bonus in the very near future,” the memo said, according to the ESPN report.
Mavericks spokesman Alan Rakowski confirmed the details of the memo to CNN.
The NBA announced last week that the league's “board of governors approved the sale of controlling interest in Mark Cuban's Dallas Mavericks to the families of Dr. Miriam Adelson as well as Sivan and Patrick Dumont”.
CNN reported in November that the Adelson family – who are majority shareholders of Las Vegas Sands and include Miriam Adelson's daughter and son-in-law Sivan and Patrick Dumont – had reached an agreement to buy a majority stake in the NBA franchise. Terms of the deal were not disclosed, but previous reports suggest the transaction is worth about $3.5 billion for the Mavericks franchise.
At the time, the Adelson and Dumont families said in a statement: “The Dallas Mavericks are one of the most successful and well-known sports franchises in the world. The team has won an NBA championship, has a long track record of attracting international superstars, and is supported by a dedicated and passionate fan base and leadership group led by Mark Cuban.”
The November statement said Cuban would continue to play an important role in the NBA franchise.
“We look forward to working with Mark Cuban to build on the team’s success and legacy in Dallas and beyond,” the statement said.
At the time, media reports said Cuban would remain partial owner of the Mavericks franchise and retain control of basketball operations.