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“The families are targeting a closing of the transaction by year-end, subject to the satisfaction of customary closing conditions and approval of the NBA Board of Governors,” said a statement released by the Adelson and Dumont families.
Cuban would retain control of basketball operations in the deal.
Mark Cuban in many ways has been the face of the Dallas Mavericks franchise since he bought the club in 2000
Mavericks likely will end up in the hands of one of Las Vegas' most powerful families
There are many factors in play surrounding Cuban's decision to sell such a big share of the franchise.