Tag

Franchisesale

All articles tagged with #franchisesale

Mark Cuban Awards $35M in Bonuses to Mavericks Staff Amid Team Sale

Originally Published 2 years ago — by Reuters.com

Mark Cuban, the outgoing owner of the Dallas Mavericks, has announced a plan to distribute over $35 million in bonuses to team employees following the sale of his majority stake in the franchise to Miriam Adelson and her family. The bonus structure considers the employees' tenure with the Mavericks, and the payouts are a gesture of gratitude for their contributions to the organization. The NBA Board of Governors has approved the sale, which comes after Cuban's successful tenure that included an NBA championship in 2011. The Mavericks are currently performing well in the season, holding the seventh spot in the Western Conference standings.

sports sportsbusiness adelsonfamily dallasmavericks employeebonuses franchisesale markcuban sportsbusiness

Mark Cuban Awards $35M in Staff Bonuses Following Mavericks Sale

Originally Published 2 years ago — by Bleacher Report

Mark Cuban, after selling his majority stake in the Dallas Mavericks for approximately $3.5 billion, is rewarding employees with $35 million in bonuses. The bonuses, shared with the new majority owners, the Adelson and Dumont families, are based on employee tenure. Cuban, who bought the Mavericks in 2000 for $285 million, will retain a 27% stake and operational control, focusing on the basketball side of the franchise. The Mavericks have significantly increased in value during Cuban's tenure, making the playoffs 19 times and winning an NBA title in 2011.

sports businesssports businesssports dallasmavericks employeebonuses franchisesale markcuban nba