Mark Cuban Sells More Assets To New Dallas Mavericks Owners
Mark Cuban is selling more of his assets to Miriam Adelson and Sivan and Patrick Dumont, the majority owners of the Las Vegas SandsLVS -1% Corp. A company set up by the Sands Corp., Village Walk RE 2 LLC, purchased more than a dozen acres from Cuban directly across Interstate 35 from the American Airlines Center, where the Dallas Mavericks currently play, the Dallas Morning News reports.
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Cuban has owned this parcel of land in the Dallas Design District since 2016 and confirmed the sale of the property to “the individuals who purchased the Mavs” to the News. The site currently houses the Mavericks’ offices and practice facility. The Dallas County Appraisal District lists the value of the land at $42.9 million for tax purposes.
The sale marks another high-profile real estate purchase by the new majority owners of the Mavericks as they make further inroads in North Texas. The company also bought over 200 acres of land in Irving, Texas, across the highway from the site of the former Texas Stadium, where the Dallas Cowboys played for decades.
“To my knowledge, that’s the only real estate currently held” by the Sands Corp. in Texas, Las Vegas Sands spokesman Ron Reese told the News about the properties in Irving and the Design District. “There certainly could be additional purchases in the future.”
Village Walk RE 2 LLC acquired the land in Irving, valued at more than $36 million, months before the sale of the Mavericks. The Sands Corp. plans to build a resort on the site.
The real estate purchases have fueled speculation about the location of a new arena for the Mavericks. Cuban has long said he wants to build a new arena for the team to play in when its current lease at the American Airlines Center expires in 2031. In December 2022, he said he envisions a new arena as part of a Las Vegas-style resort and entertainment destination.
