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UFC RETURNS TO MACAU

 

SANDS CASINO FAMILY SAYS THEY'LL BUY MAJORITY OF MAVS FROM CUBAN. AP SOURCES SAYS VALUATION IS $3.5B

Miriam Adelson. AP Photo 

Dallas Mavericks owner Mark Cuban has entered into an agreement to sell a majority stake in the NBA franchise to the family that runs the Las Vegas Sands casino company, it was announced Wednesday. The deal could be completed in the coming weeks.

The agreement would be in the valuation range of $3.5 billion, according to a person who spoke to The Associated Press on condition of anonymity because that detail was not being made public. Cuban would retain control of basketball operations in the deal.

The company controlled by Miriam Adelson, widow of casino magnate Sheldon Adelson, announced earlier Tuesday it was selling $2 billion of her shares to buy an unspecified professional sports team. It revealed Wednesday that the team was the Mavericks.

“The families are targeting a closing of the transaction by year-end, subject to the satisfaction of customary closing conditions and approval of the NBA Board of Governors,” said the statement released by the Adelson and Dumont families.

BOXING: MANNY PACQUIAO'S NEXT FIGHT WILL BE OUTSIDE OF USA AND NOT WITH TERENCE CRAWFORD

Bob Arum has reveiled that Manny Pacqiao's next bout will take place outside of USA and he will not fight Terence Crawford...

BOXING: BOXING COACH FREDDIE ROACH SAYS MANNY WILL BEAT BRANDON RIOS

Freddie Roach called a press conference on the night of the Manny and Rios in Macau, China.