Dallas Mavericks employees received some good news on Friday when Mark Cuban announced a substantial payout.
The billionaire entrepreneur and Shark Tank veteran, who recently sold his majority stake in the NBA franchise, informed workers of the plan to pay approximately $35 million in bonuses via an email obtained by ESPN.
Image Credit: Sam Hodde | Getty Images
Related: Mark Cuban Is Reportedly Selling the Dallas Mavericks to Another Billionaire
“As a thank you for all your hard work making the Mavs an amazing organization, each of you will be receiving a bonus from myself, and the Adelson and Dumont families,” the memo read. “In total, we will be paying out approximately $35 plus Million Dollars in bonuses to you all.”
The amount of time employees have spent working with the Mavericks will factor into the final bonuses, which will be distributed “in the very near future.”
An email from Mark Cuban to Mavs employees informing them of a plan to pay approximately $35M in bonuses in the wake of selling a majority stake of the franchise: pic.twitter.com/omoamjRA1H
— Tim MacMahon (@espn_macmahon) January 5, 2024
Earlier in the week, the NBA confirmed that the league’s Board of Governors had approved the sale of the controlling interest in the Mavericks from Mark Cuban to the families of Dr. Miriam Adelson and Sivan and Patrick Dumont, per CNN Business.
The Adelson family, which includes Miriam Adelson’s daughter and son-in-law Sivan and Patrick Dumont, are majority shareholders of the Las Vegas Sands, which boasts a $38 billion market capitalization.
Related: Want to Get Money From Mark Cuban? Here’s How.
Cuban sold the Mavericks for more than $4 billion, “which includes the franchise and its assets such as buildings and land,” The Athletic reported in December.
Initial reports indicated that Cuban, who has a net worth of $6.76 billion, would maintain partial ownership of the team and oversee basketball operations.
Source: entrepreneur.com