Mark Cuban: Selling Mavericks Could Boost Dallas Tourism

Exploring Mark Cuban's Latest Business Ventures and Insights

by Zain ul Abedin
SHARE
Mark Cuban: Selling Mavericks Could Boost Dallas Tourism
© Stacy Revere/Getty Images

Mark Cuban, the renowned "Shark Tank" personality and tech mogul, has set his sights on new horizons. In an enlightening MasterClass titled "Win Big in Business," which premiered this Thursday, Cuban unpacks the essence of his entrepreneurial journey.

This revelation comes in tandem with an exclusive chat with PEOPLE, where Cuban discusses his strategic decision to part ways with the Dallas Mavericks, a move signalling a forward-looking approach to the sports industry's future.

At 65, Cuban has honed his expertise in technology, media, and sales, recognizing these as his core strengths. His decision to sell the Mavericks last fall, after an impressive 24-year ownership, reflects this introspection.

"I'm occasionally good at basketball," Cuban admits, "but constructing arenas or creating resort entertainment destinations, which are emerging as major revenue sources in professional sports, is not my forte." Drawing inspiration from Jerry Jones, owner of the Dallas Cowboys, Cuban sees an opportunity to transform Dallas into a vibrant tourist hub, in collaboration with Las Vegas Sands Corp.

owners Patrick Dumont and Miriam Adelson. Envisioning a scenario where a Venetian-style resort adjoins the Dallas convention center, he anticipates a seismic shift in Texas's appeal to tourists. Cuban's vision extends beyond just a gambling haven; he sees the potential for Dallas to ascend as one of America's top three tourist destinations.

Cuban's Entrepreneurial Philosophy

This strategic pivot aligns with the principles Cuban espouses in his MasterClass, emphasizing the importance of balancing risks and opportunities in business ventures. It's this philosophy that underpins his other entrepreneurial endeavor, Cost Plus, an online discount prescription drug company championing pricing transparency and making strides as a pharmaceutical wholesaler.

As a father of three, Cuban's entrepreneurial spirit seems to be a family trait. While his 14-year-old son Jake is already dabbling in business, his daughters, aged 17 and 20, are exploring their passions. Cuban underscores the timeless nature of entrepreneurship, asserting that success isn't age-dependent but rather hinges on leveraging one's expertise and passion.

Despite divesting a majority of his stake in the Mavericks, Cuban retains a 27% share and remains deeply involved with the team, vowing to continue accompanying them on road trips. His dedication to the Mavericks is unwavering, as he assures fans of his continued presence, passionately supporting the team from the sidelines.

SHARE