Mark Cuban’s landmark deal to sell a majority stake in the Dallas Mavericks to Miriam Adelson has what is perhaps an even bigger underlying vision: the development of a new arena and casino complex in Dallas. 

The agreement, valuing the Mavericks at about $3.5 billion, will see the serial entrepreneur and outgoing “Shark Tank” star transfer majority control of the NBA team to Adelson — the casino billionaire widow of Las Vegas Sands Corp. founder Sheldon Adelson — while Cuban retains oversight of the team’s basketball operations. A closing is projected by the end of the year, subject to league approvals.

But the agreement is also premised on jumpstarting a long-discussed plan to construct a successor to American Airlines Center, the 22-year-old arena the Mavericks share with the NHL’s Dallas Stars.

“My goal, and we’d partner with Las Vegas Sands, is when we build a new arena, it’ll be in the middle of a resort and casino. That’s the mission,” Cuban said in December 2022.

Nearly a year later, Cuban reconfirmed his intent, telling KXAS-TV’s Newy Scruggs that Adelson and Sands are “coming in to … build a new arena, which will hopefully be a Venetian-like resort here in Dallas. That’s the goal.”

Opportunities And Obstacles

Texas is a highly coveted locale for casino and sports betting operators, boasting a population of over 30 million that ranks second only to California among American states. Major cities such as Dallas, Houston, Austin, and San Antonio additionally present the opportunity to build gambling destinations in large, vibrant markets.

But legislators in the Lone Star State have consistently resisted both sports betting and casinos. This past spring, the Texas Senate declined to consider casino and sports betting measures.

Nevertheless, the issue of legalized gambling is expected to be picked back up in 2025 — Texas lawmakers meet in alternating years — with increased hopes of passage.

Cuban, meanwhile, has downplayed speculation that he will now campaign for U.S. president with his status in the Mavericks changing, telling NBC News he has “no plans” to run for office.

In yet another sign of the increasing popularity of women’s sports, elite competitions around the world are projected to surpass $1 billion in annual revenue for the first time next year.

A new report from Deloitte predicts that top women’s leagues will generate global revenues of $1.28 billion in 2024.

• Commercial revenue (sponsorships, merchandising): $696 million
• Media rights: $340 million
• Matchday (tickets, concessions): $240 million

This is the first time that annual global revenues for women’s sports will have surpassed $1 billion. This total is at least 300% higher than Deloitte’s previous valuation three years ago.

Soccer and basketball are expected to bring in a respective 43% and 28% of the revenue — collectively representing more than two-thirds of the total. North America is forecast to be the largest geographical market with over half of the revenue generation.

Deals Getting Bigger

Next year, the NWSL will begin a new $60 million annual media rights deal with Amazon, CBS Sports, ESPN, and Scripps Sports. The WNBA will reportedly bring in at least $40 million from its media deals with ESPN and Scripps next season.

In the U.K., the Women’s Super League is embarking on a quest to become a billion-dollar league after bringing in more than $40 million in revenue in 2022.

The International Olympic Committee has taken a crucial step toward determining the hosts of two future Winter Games.

The French Alps have been selected as the preferred bidder for the 2030 Olympics, while Salt Lake City, Utah has been granted the same status for the 2034 Games. 

The IOC executive board invited Olympic committees from France and the U.S. to enter “targeted dialogue” toward hosting the respective games. A final decision for 2030 and 2034 will be made at the next IOC session in July ahead of the Paris Olympics.

The awarding of a preferred bidder status began in 2021 with the selection of Brisbane for the 2032 Summer Games — an effort to alleviate the extravagant and expensive bidding process for interested cities and regions.

French organizers have said they plan to stay under the $1.61 billion projected budget of the 2026 Milano-Cortina Games. Salt Lake City, the host of the 2002 Olympics, had originally expressed interest in hosting another edition in 2030 but eventually shifted its focus to 2034.

Switzerland, 15 Years Out?

The IOC also invited Switzerland — another hopeful bidder this cycle — to enter into “privileged dialogue” about hosting the 2038 Winter Olympics.

Swiss organizers will be asked to provide more information on things like venues and funding during a discussion period that could last through 2027 or end sooner if the project is ready.

A bid from Sweden was the only other remaining challenger to the French, U.S., and Swiss bids.