Dallas Mavericks employees will get a share of $35 million in bonuses from Mark Cuban and the Adelson and Dumont families.
Cuban, the minority owner of the NBA basketball team, reportedly said in an email to employees that they would get a cut of the bonuses based on their service longevity, according to a Friday tweet from an ESPN reporter.
The NBA Board of Governors last month approved the Adelson and Dumont families as the new majority owners of the Mavericks. Cuban will continue as a minority owner and will remain in charge of the team’s basketball operations.
The ESPN tweet said Cuban and the families authorized the bonuses and that employees would be paid “in the very near future.”
Dr. Miriam Adelson, who remains the top shareholder for Las Vegas Sands Corp., announced in November that she was selling $2 billion in Sands stock to finance the purchase of the majority share of the Mavericks.
Sands President and Chief Operating Officer Patrick Dumont will become the Mavericks representative to the NBA Board of Governors, with Cuban serving as a backup.
“As a thank you for all your hard work making the Mavs an amazing organization, each of you will be receiving a bonus from myself and the Adelson and Dumont families,” Cuban said in the email tweeted by ESPN.
“In total, we will be paying out approximately $35 million to you all,” he said. “To calculate your bonus, we used a framework that took into consideration how long you have worked for the Mavs.
“You will receive your bonus in the very near future. I’m excited to continue our work making the Mavs the best franchise in all of sports! Let’s Go Mavs!”
Based on the value of the franchise, Adelson and her daughter, Sivan Dumont, and son-in-law Patrick Dumont own about 70 percent of the Mavericks franchise while Cuban retains approximately 27 percent of it.
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