Mark Cuban is making sure his Mavericks employees are being taken care of following his sale of the majority stake in the NBA franchise … promising to dole out $35 million-plus in bonuses in the near future.
The former Dallas owner made the announcement in an email to Mavs staffers on Friday, according to ESPN … explaining new owners Miriam Adelson and Sivan and Patrick Dumont will be helping to contribute to the large bonus pool as well.
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
@espn_macmahon
Cuban said the payouts will be based on “a framework that took into consideration how long you have worked for the Mavs.” He added the cash will be hitting bank accounts “in the very near future.”
“I’m excited to continue our work making the Mavs the best franchise in all of sports!” Cuban said in the letter.
Of course, Cuban officially gave way to Adelson and the Dumonts late last month … selling the families his controlling interest in the team for $3.5 billion.
The 65-year-old, however, still maintains a 27% stake in the org. … and he told reporters after it all became official that he’ll still have control of basketball operations.
As for why he made the surprising move … he said it’s simple — he thinks the new owners can grow the business 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 said, “that’s a huge win.”
Seems Mavs employees are already reaping the benefits of that vision.
