American entrepreneur Mark Cuban expects losses of over $ 100 million due to the ongoing coronavirus pandemic in the NBA. The pandemic has caused NBA revenue to suffer a massive slump, especially since fans were not allowed into the arena. Cuban, who owns the Dallas Mavericks in the NBA, is hoping fans can get back to the stadiums soon as the franchises try to tackle financial troubles ahead of the new season, which kicks off in less than two weeks.
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Mark Cuban NBA team: Mavericks owner expects losses of over $ 100 million due to pandemic
In conversation with The Hardline on Sportsradio 96.7 FM / 1310 The Ticket [KTCK-AM], Dallas Mavericks owner Mark Cuban talked about everything related to the new NBA season. The Shark Tank star said he will definitely take losses this season due to the pandemic that will surpass the nine-digit mark. However, the 62-year-old said he can luckily afford these hits and will continue to pay the players and staff the way it is.
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However, Cuban stated that he is optimistic that the Mavs arena will return to full capacity later this season. The Maverick owner said the franchise would soon announce the team’s plans for fan visits for the start of the new NBA season, but Texas guidelines would currently only allow the team to host 5,000 people in the 20,000-seat arena to accommodate every game. Cuban is optimistic and believes the team will have no problem selling seats once fans are comfortable attending large gatherings after the vaccine is phased out.
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Mark Cuban Investments: Mark Cuban Assets
The Dallas Mavericks are the NBA’s ninth most valuable team, at an estimated value of $ 2.4 billion, according to the latest Forbes ratings. Mark Cuban has an estimated net worth of $ 4.2 billion. The 62-year-old paid $ 280 million to become the majority owner of the Mavericks in 2000, and their value has just skyrocketed over the past two decades. Cuban has interests in Magnolia Pictures, AXS TV and dozen of small startups. He founded the video portal Broadcast.com with Indiana University graduate Todd Wagner in 1995 and sold it to Yahoo! in 1999 for $ 5.7 billion.
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