Mark Cuban has one major regret after selling – Business News
Mark Cuban says he has one large regret after cashing out of the Dallas Mavericks — and it’s not the sale itself.
“I don’t regret selling, I regret who I sold to. Yeah, yeah, I made a lot of mistakes in the process and I’ll leave it at that,” the billionaire entrepreneur mentioned on an episode of the Intersections podcast revealed Tuesday.
He agreed in late 2023 to sell a controlling stake within the franchise to on line casino magnate Miriam Adelson and her household.
Cuban, who spent almost 20 years as one of the “shark” traders on “Shark Tank,” mentioned the grind of proudly owning an NBA franchise finally pushed him towards the exit, describing it as an all-consuming emotional rollercoaster that wore him down over time.
Former Mavericks proprietor Mark Cuban mentioned he regrets who he bought the group to — and blasted the franchise’s choice to commerce Luka Dončić with out his enter. Intersections Podcast/YouTube
“It’s a big emotional commitment, right? You hear the passion and everything — now imagine going up and down like that every single game. That’s hard,” he mentioned.
The depth of fan reactions — particularly when the group struggled — made him cautious of his kids working in that atmosphere and being subjected to what he described as abusive therapy, Cuban added.
But whereas the celeb money-man defended the choice to sell, he drew a line at how issues unfolded after the deal — notably a blockbuster commerce involving franchise cornerstone Luka Dončić.
Cuban mentioned he was blindsided when the Mavericks moved the star participant, describing a chaotic late-night telephone call that left him surprised.
“I got a text from a then-general manager and he said ‘Call.’ And I did and I thought he was asking me what I thought about a potential trade for Luka he was like, ‘No, Mark, it’s done,’” Cuban recounted.
Casino magnate Miriam Adelson leads the possession group that purchased a controlling stake within the Mavericks, a deal Cuban now says he regrets. Getty Images
“I was like, ‘What did we trade him for?’ And he told me — and no disrespect to Anthony Davis — but I’m like, ‘He’s hurt a lot.’”
The former proprietor mentioned he instantly seen the deal as a catastrophic mistake — one he had no energy to stop.
“I called the new owner and he started telling me stuff that wasn’t true that he had been told as the reason why he approved it and I’m like, that’s not true — um, this is a mistake but nothing I can do,” Cuban mentioned.
Cuban framed Dončić as a once-in-a-generation expertise who ought to have been untouchable beneath any circumstances. he added.
Beyond basketball logic, Cuban urged the choice was influenced by inner tensions and personal dynamics within the Mavericks group.
Dallas Mavericks star Luka Dončić was traded in a beautiful transfer that Mark Cuban known as a “mistake,” saying generational gamers like him are untouchable. Getty Images
Cuban additionally pointed to former common supervisor Nico Harrison as a key determine within the decision-making course of, arguing that personal relationships could have skewed the entrance workplace’s judgment.
He famous Harrison had been close with Anthony Davis, the previous Lakers star who went to the Mavs within the Dončić swap, since Davis was about 13 years previous, whereas head coach Jason Kidd additionally beforehand coached him.
“You talk about confirmation bias, that there’s there was some of that, as well,” Cuban mentioned, suggesting these ties contributed to the choice to commerce away Dončić.
The feedback spotlight a growing rift between Cuban and the new possession group led by Adelson, whose household acquired about 73% of the franchise in a deal valued at round $3.5 billion.
Cuban retained a minority stake however has more and more signaled he no longer holds significant affect over basketball operations.
The Post has sought remark from Cuban and Adelson.
