Holy shit: Mark Cuban is selling

[Pure Steel]

I wondered when I saw this whether Cuban was having financial problems. He gets involved in a lot of questionable ventures IMO.

His net worth is $6.2B.....I wish I had his financial problems......

 

[Iggloo]

I'm not saying he's starving or anything, but I thought it odd that he would sell his majority stake. Presidential run is one possibility I suppose. People are definitely looking for an alternative to the major party candidates right now.

 

[msgkings322]

I wondered when I saw this whether Cuban was having financial problems. He gets involved in a lot of questionable ventures IMO.

Really? Like what?

 

[logic]

That sucks, because Cuban sucks at running the basketball side of things.
He meddles too much in the GMs business and truly only won the one championship because he had a HOF power forward and GM in Donny Nelson putting together a good roster. He's like a somewhat more tame Jerry Jones.

Not to mention the Heat just choked.

 

[DorianRo]

Well he got his 'ship. Thats where it ends. They wont win another one. Helluva run in 2011 though

 

[DJ Fieri]

I'm not saying he's starving or anything, but I thought it odd that he would sell his majority stake. Presidential run is one possibility I suppose. People are definitely looking for an alternative to the major party candidates right now.

He bought them for like 280 million.

He made a huge profit.

 

[Iggloo]

There is almost no way to lose money buying a pro sports team. Their value only goes up, so long as the sport remains popular. Sports teams are also extremely valuable for advertisers because sports are one of the few live events that still get high ratings in the era of streaming.

I may be wrong on Cuban needing the money, but he has a lot of weird investments that go nowhere. He's currently taking on big pharma on drug pricing which may be commendable but It's a real uphill challenge.

That said, CVS may have just basically stolen his idea and did it themselves.

https://www.cnn.com/2023/12/06/business/cvs-mark-cuban-nightcap/index.html