During the latest thought-provoking episode of Sporticast, hosts Scott Soshnick and Eben Novy-Williams delve into some of the most captivating sports business narratives of the week. A major NBA shocker took center stage when it was revealed that Mark Cuban, the owner of the Dallas Mavericks since 2000, is in the process of selling a majority stake in the team to the esteemed Adelson family.
This deal is truly one of a kind. Cuban will retain a minority stake in the team and maintain operational control for the time being. The Adelsons, who oversee Las Vegas Sands (NYSE: LVS), will assume the majority ownership of the team and are likely to have a hand in securing a new downtown arena for the NBA franchise. The historic transaction valued the Mavericks at an impressive $3.5 billion, making it one of the highest-valued U.S. sports team transactions to date.
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It’s clear that gambling likely plays a significant role in the Adelson family’s strategy. Currently, neither sports betting nor land-based casinos are legal in Texas, the second most populous state in the country. If that were to change, there would be a tremendous opportunity for companies like Las Vegas Sands. Cuban has previously expressed his desire for the Mavericks’ new arena to be part of a larger complex that includes a resort and a casino. Additionally, efforts to legalize online sports betting in Texas have outlined a system where local sports teams control licenses, adding another potential deal point for the Adelsons in their acquisition of the Mavericks.
Next, the hosts take a deep dive into Sportico‘s recent list of the highest paid coaches in sports. The project revealed that nearly 40 coaches across U.S. professional and collegiate sports earn over $8 million per year in base salary, with 20 of the top 25 coming from football. The list is topped by Bill Belichick of the New England Patriots at $25 million, followed by Sean Payton of the Denver Broncos at $18 million, Gregg Popovich of the San Antonio Spurs at $16 million, and a tie between Sean McVay of the Los Angeles Rams and Pete Carroll of the Seattle Seahawks at $15 million.
Lastly, they touch on the viewership of the NFL’s inaugural Black Friday game on Amazon, which fell short of Amazon’s average Thursday night viewership; and the business implications of Sports Illustrated publishing articles with fictitious bylines.
Emily Turner is your source for everything NBA. As a dedicated basketball enthusiast, she offers insights into NBA games, player highlights, trade rumors, and the league’s evolving dynamics. Emily’s love for the sport shines through in her comprehensive NBA coverage.