Billionaires Mark Cuban and Michael Heisley and Liberty Media Corp. will take over the Mavericks, Grizzlies and Nuggets, respectively. The Nuggets likely will be sold again in the near future.
Earlier this year, Cuban, who co-founded BroadCast.com, bought a majority share of the Mavericks for $280 million, a record for an NBA team. The Hillwood Development Corporation, led by former majority owner Ross Perot Jr., will retain a minority share of the team.
"I think that Mark brings an incredible enthusiasm to the operation of a sports franchise," NBA commissioner David Stern said. "And he's willing to take some risks, which I think is important. He's shown himself to be exceedingly fan-friendly and that's a very good lesson for all of us to focus on."
Reuters
