Cuban's group bought into the Athletics on Thursday. He still owns 27% of the Mavericks and says the pivot away from Dallas was not his choice.
DALLAS — An investment group led by Mark Cuban purchased a minority stake in the Athletics on Thursday. Cuban still holds 27% of the Dallas Mavericks.
Harbinger Sports Partners announced the purchase ahead of the franchise's planned move to Las Vegas in 2028. The Atlanta-based firm did not disclose the percentage. Cuban is Harbinger's general partner and president.
Rashaun Williams founded the firm and serves as chief investment officer. Williams is a limited partner with the Atlanta Falcons, and Cuban said the two met through Shark Tank. Co-founder Steve Cannon is Harbinger's chief executive officer. Cannon is also vice chairman of AMB Sports and Entertainment. Managing partner Jonathan Mariner spent more than a decade as Major League Baseball's chief financial officer.
The group was established in May 2025 with Cuban as a founding member. Its sports fund has raised more than $460 million in under six months. The Athletics stake is the first deployment from it.
"We are minority investors looking to make our investors a lot of money," Cuban said.
John Fisher is the majority owner of the Athletics. The club is playing the second of three planned seasons at a minor league park in West Sacramento, California, and is seeking to raise as much as $550 million from investors. A $2 billion, 33,000-seat domed stadium is under construction on the Las Vegas Strip.
On Friday, Cuban responded to emailed questions from Brad Townsend of the Dallas Morning News.
"The pivot away from the Mavs was not my choice," Cuban said.
Cuban sold his controlling interest in December 2023. The buyers were the families of Miriam Adelson and her son-in-law, Patrick Dumont. The transaction was valued at roughly $3.5 billion. Cuban kept 27%. Between them, the Adelson and Dumont families hold 69%, and Dumont serves as governor. At the time of the sale, Cuban said no contractual language granted him control of basketball operations.
Masai Ujiri was hired as president of basketball operations and alternate governor on May 4. Fifteen days later, the Mavericks and Jason Kidd agreed to part ways. Mike Schmitz was hired as general manager days after Ujiri's introductory news conference. Dusty May was named head coach on June 23.
"I have spoken on the phone once with Masai [Ujiri] for about 120 seconds," Cuban said. "I've had two texts with Masai, both I think maybe 2 or 3-word responses, a couple with no response. Which is fine. His choice. I absolutely expected it when they hired Masai. That's why they hired him. To run basketball."
On July 8, companies owned by Cuban filed a Rule 202 pre-suit petition in Dallas County District Court. Mavs Roundtable's Mike Fisher first reported the filing. It seeks documents and a deposition from Arena Development Intermediate LLC. Dumont and the Mavericks created that entity to handle development of the new arena. The filing accuses Dumont of "adversarial business practices." Court records have been sealed, and it is not clear who requested that. Cuban declined on Friday to discuss the proceeding. He also declined to characterize his relationship with Dumont.
The Mavericks signed an option agreement in June to purchase approximately 104 acres in North Dallas at the former Valley View Mall site. Their lease at American Airlines Center runs through 2031.
Under the terms of the 2023 sale, the Adelson and Dumont families hold the right to purchase an additional 20% of Cuban's stake. That would leave him at 7%.
Dallas finished 26-56 last season. Cooper Flagg averaged 21.0 points, 6.7 rebounds, 4.5 assists, and 1.2 steals as a rookie and won Rookie of the Year.
Dallas took Morez Johnson Jr. ninth overall in the June draft. Later in the first round, the Mavericks traded up five spots to draft Sergio de Larrea. Santi Aldama and Marcus Sasser arrived in a six-team deal. On July 19, Dallas added Zaccharie Risacher in a three-team trade with Atlanta and Oklahoma City. Ryan Nembhard went to Atlanta in that deal. Risacher's $13.8 million salary was absorbed into the $20.8 million trade exception created by the Anthony Davis trade in February.
Dallas opens the preseason against the Houston Rockets in China, then closes it at home against the New Orleans Pelicans on Oct. 14 and the Atlanta Hawks on Oct. 16.
