It’s been more than 20 years since Mark Cuban made a big change, starting at an NBA game.
In November 1999, at the start of the 1999-2000 NBA season, as the tech billionaire was watching a Dallas Mavericks soccer game, Cuban realized that his fortune could take him from spectator to owner. own the team.
That’s what Cuban recently shared with Chris Paul in an interview for the show “How I Got Here“. Both talked about how the billionaire bought the Mavericks in 2000.
Acquiring decisively and successful fruit
Mark Cuban moved to Dallas in 1982 and started his career in technology. Here, he became both a billionaire and a huge fan of the Mavericks. Cuban decided to buy the Mavs while sitting in the stands, watching a basketball team that failed to make it to the knockout stages in nearly a decade and struggling to attract fans.
“My seat was two rows behind the Mavs bench,” Cuban said. “I sat there and there was no one around. And, I thought ‘I can do better than this.’ And then another thought. came to mind: ‘Ding, ding, ding! Now, I can buy this football team!’”
It’s not just a saying. At the time, Cuban was an up-and-coming billionaire. Just a few months earlier, in April 1999, he had successfully sold his internet radio company, Broadcast.com, to Yahoo for $5.7 billion. Compared to the team’s final sale price – about $285 million – Cuban has plenty of money to buy the Mavericks.
Billionaire Mark Cuban. Photo: Getty Images
Cuban feels the Mavericks need to do better not only on the football field but also at the marketing of the players to grow the fan base. He began the process of acquiring the team, through mutual acquaintances to contact the then owner, billionaire real estate Ross Perot Jr. Negotiations moved quickly and Cuban was announced as the team’s new owner in January 2000, just a few months before the start of the new season.
The deal has proven to be a financial success for Cuban and the team. Mavericks is currently valued at $ 2.7 billion – the 9th highest in the NBA – according to Forbes.
Love for sport is the reason
However, Cuban remains adamant that the acquisition of the team is purely because of his love for the sport. In 2019, he once shared regarding the acquisition of a basketball team: “I never thought of investing because I love basketball”.
Cuban also believed he could help turn the Mavericks’ fortunes – and he was right. Cuban said in a 2000 interview that he was “willing to commit to spending as much money as possible” to make the Mavericks the championship basketball team of the tournament.
From prioritizing marketing the team’s best players to recruiting stars and has always been an outspoken supporter and cheerleader for the Mavericks, Cuban has established the team as one of the top brands. top of the NBA. Since taking over, Cuban’s Mavericks have only missed the knockout stages five times in 23 seasons and won the 2011 NBA championship.
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