Mark Cuban sells majority stake in the Dallas Mavericks
Dallas Mavericks owner Mark Cuban has entered into an agreement to sell a majority stake in the NBA team to an ownership group led by Univision.
The deal, which was approved by the NBA board of governors on Monday, is the latest in a series of moves by Cuban to sell off his interest in the team.
Cuban, who has been the Mavericks' owner since 2000, had been looking to sell a stake in the team for several years. He had previously sold minority stakes to several investors, including former minority owner Michael Finley.
The sale of a majority stake to Univision is a significant development for the Mavericks. Univision is a Spanish-language media company that is owned by TelevisaUnivision, one of the largest media companies in the world.
The deal is expected to close in the coming weeks. The financial terms of the deal have not been disclosed.
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