In the world of professional sports bosses, Mark Cuban should be on every potential hire’s list of who to work for simply because of the financial perks. Cuban announced that he and the new ownership would pay over $35 million in bonuses to the team’s staff.
Talk about a happy new year.
“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,” Cuban said in a message to employees read, according to ESPN’s Tim MacMahon. “In total, we will be paying out approximately $35 plus Million Dollars in bonuses to you all.”
The bonus amount will be calculated with a “framework that took into consideration how long you have worked for the Mavs,” according to Cuban.
How The Deal Was Done
Last month, the NBA approved the sale of the Dallas Mavericks to the families that run the Las Vegas Sands casino company for $3.5 billion. Cuban will reportedly still control basketball operations. Late last year, the families of Miriam Adelson, Sivan, and Patrick Dumont announced their intent to buy the club. Patrick Dumont will serve as the Mavericks governor.
Dumont is the son-in-law of Miriam Adelson and president and chief operating officer of the Las Vegas Sands company. Adelson is the widow of casino magnate Sheldon Adelson. With all the talk surrounding a potential Las Vegas NBA franchise, the Mavericks plan on staying in Texas.
However, Cuban plans to upgrade Dallas, and his partnership with the Las Vegas Sands feeds into a long-term goal of building an arena in downtown Dallas that includes a hotel and casino. Gambling is illegal in Texas. However, the Las Vegas Sands company has diligently worked to change that.
“It’s a partnership. They’re not basketball people, I’m not real estate people. That’s why I did it,” Cuban said to NBC Dallas-Fort Worth.
All In
Cuban also announced that he would leave “Shark Tank” after season 16 to spend more time with his family.
“I feel like in doing ‘Shark Tank’ all these years we’ve trained multiple generations of entrepreneurs that, if somebody can come from Iowa or Sacramento or wherever, and show up on ‘Shark Tank’ and show their business and get a deal, it’s going to inspire generations of kids,” Cuban said on the “All the Smoke” podcast.
Today’s generation is inspired to fill out a Dallas Mavericks application based on Cuban’s generosity with his employees.
