Mark Cuban Paying Mavs Employees $35 Mil In Bonuses After Selling Stake In Team

Mark Cuban is ensuring his Mavericks workers are being taken care of following his sale of the bulk stake within the NBA franchise … promising to dole out $35 million-plus in bonuses within the close to future.

The previous Dallas proprietor made the announcement in an electronic mail to Mavs staffers on Friday, in keeping with ESPN … explaining new house owners Miriam Adelson and Sivan and Patrick Dumont shall be serving to to contribute to the massive bonus pool as nicely.

Cuban stated the payouts shall be based mostly on “a framework that took into consideration how long you have worked for the Mavs.” He added the money shall be hitting financial institution accounts “in the very near future.”

“I’m excited to continue our work making the Mavs the best franchise in all of sports!” Cuban stated within the letter.

After all, Cuban formally gave approach to Adelson and the Dumonts late final month … selling the families his controlling curiosity within the crew for $3.5 billion.

The 65-year-old, nevertheless, nonetheless maintains a 27% stake within the org. … and he advised reporters after all of it grew to become official that he’ll nonetheless have management of basketball operations.

As for why he made the stunning transfer … he stated it is easy — he thinks the brand new house owners can develop the enterprise exponentially.

“When you get a world-class partner who can come in and grow your revenue base and you’re not dependent on things that you were in the past,” Cuban stated, “that’s a huge win.”