Billionaire Mark Cuban is the former majority owner of the NBA's Dallas Mavericks. In a recent interview, Cuban highlighted some of the reasons he sold his majority stake in 2023.
Mark Cuban On Mavericks Sale, Family
Since 2019, around one-third of National Basketball Association teams have changed owners.
That stat became a key question during an interview between Semafor and Cuban, with the billionaire asked why 2023 was the right time to sell his majority stake.
"Everyone has their own reasons, but part of it's age," Cuban said.
Cuban acknowledged that it takes "a lot of energy" to run a sports team.
One of the big questions for team owners is whether they want to pass the team down to their children, something Cuban was against.
"I want them to go in their own direction."
Cuban acknowledged how intense the sports market can be and the hatred from fans yelling things like "Get Luca help" or "Trade Dirk." The billionaire said the hatred has intensified in "this social media day and age."
"I want my kids to go on their own path."
Paths that Cuban is likely hoping his kids don't take are sports and politics.
"Politics and sports are the two areas where you can't just say, hey take over the company. It's a different beast."
Cuban remains a minority owner of the Mavericks with a 27% stake in the NBA team.
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