in

Mark Cuban is set to pay more than $35 million in bonuses to Mavericks employees before selling his $3.5 billion majority stake to the Adelson family.

  • The bonuses come after Cuban sold most of the Mavericks to a consortium
  • Cuban still holds a minority stake and is in charge of basketball operations
  • DailyMail.com provides all the latest international sports news

Billionaire Mark Cuban is sharing some of his wealth with the staff of the NBA team he once majority owned: the Dallas Mavericks.

Cuban recently sold enough stock to shed his majority stake in the team — in a $3.5 billion deal that will see Adelson’s family take over.

As a thank you for their years of hard work, Cuban announced in a letter to Mavericks employees that they would be receiving bonuses.

The payouts were based on «a framework that took into account how long you worked for the Mavs» — with promises that the money would arrive in their bank accounts «in the very near future.»

Bonuses would be paid out by the Cubans and the two new owners Miriam Adelson, Sivan Dumont and Patrick Dumont.

Mavericks co-owner Mark Cuban is paying team employees $35 million in bonuses

The Cuban sold a majority stake in the team to a consortium led by casino owner Miriam Adelson

The Cuban still retains a 27 percent stake in the team and manages basketball operations

«I’m excited to continue our work to make the Mavs the best franchise in all of sports!» Cuban said in the letter.

Recommended Article
PETER HITCHENS: Ignorance and anger drive the Israel-Russia debate

While Cuban sold most of the Mavericks, the billionaire and longtime team owner retained a 27 percent stake in the franchise.

Cuban is also still in charge of the Mavs’ basketball operations — he said he feels the business could be better with a new owner in control.

«When you get a world-class partner that can come in and expand your revenue base and you’re not dependent on things that you were in the past,» Cuban said, «that’s a huge win.»

***
Read more at DailyMail.co.uk

What do you think?

Deja una respuesta

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *

GIPHY App Key not set. Please check settings

Connecting Mind and Body: Cultivating Emotional Resilience

Sarah Ferguson and Prince Andrew visited Epstein’s Palm Beach lair where Duke got DAILY massages and stayed in the ‘blue room’, former housekeeper claims in newly unsealed files heaping fresh embarrassment on Royal – but royal ‘promised not to leave brother’