Mark Cuban Will Distribute $35 Million On Bonuses To Dallas Mavericks Employees
Last November, in a surprising move, Dallas Mavericks owner Mark Cuban revealed he is selling a majority stake in the team to casino magnate Miriam Adelson.
The deal, that finalized a couple of weeks later, is valued at around $3.5 billion. However Cuban reportedly retained a stake, large enough to give him enough voting power to maintain control of basketball decisions, including hiring and firing the coach and general manager
Then, on Friday, Cuban gave Mavericks employees quite the surprise by announcing that the team would be handing out over $35 million in bonuses. In an internal memo obtained by Tim MacMahon, Cuban told team employees,
“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. In total, we will be paying out approximately $35 plus Million Dollars in bonuses to you all. To calculate your bonus, we used a framework that took into consideration how long you have worked for the Mavs. You will receive your bonus in the very near future,”
An email from Mark Cuban to Mavs employees informing them of a plan to pay approximately $35M in bonuses in the wake of selling a majority stake of the franchise: pic.twitter.com/omoamjRA1H
— Tim MacMahon (@espn_macmahon) January 5, 2024