Billionaire entrepreneur Mark Cuban, renowned for his multifaceted ventures, including tech, pharmaceuticals, and ownership of the Dallas Mavericks, seems to be undergoing a strategic shift in his high-profile portfolio.

Last week, Cuban announced his departure from ABC's "Shark Tank," a reality TV show where he has been a prominent figure since 2012.

Adding to the intrigue, reports suggest that the 65-year-old mogul is contemplating selling his majority stake in the Dallas Mavericks to the Adelson family, known for their association with the Las Vegas Sands casino company, according to Business Insider.

Cuban's ownership of the Mavericks dates back to 2000 when he acquired it from real-estate developer Henry Ross Perot Jr. for $285 million.

The reasons behind these significant divestitures remain unclear, fueling speculation about Cuban's intentions.

Among the swirling conjectures is the notion that these moves could be part of a larger strategy to amass a substantial funding pool, potentially hinting at a 2024 presidential run.

This theory gains traction given Cuban's previous discussions about entering the political arena.

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Mark Cuban 2024 Presidency Speculations Answered

In response to the mounting speculation, Mark Cuban addressed the rumors on Wednesday, asserting that he currently has "no plans" to run for president in 2024.

This contradicts earlier discussions in which Cuban expressed interest in a potential independent run.

Mark Cuban dismissed 2024 presidential bid rumors in July. "My family would disown me," Cuban said in an email.

He stated he was not considering a third-party candidacy amid No Labels' efforts for a bipartisan ticket.

When queried again about any change in his stance regarding a presidential run on Wednesday, Mark Cuban maintained his previous position, stating in an email to NBC News, "No plans to run."

While Cuban has contemplated running for president on multiple occasions, his recent statements appear to downplay any immediate political aspirations.

In 2020, Cuban openly explored an independent presidential run and engaged in discussions with No Labels, a bipartisan group seeking to field a third-party candidate.

However, the group's founder, Nancy Jacobson, indicated that candidate deliberations were not a primary focus for them.

No Labels is slated to host a convention in Dallas in April, aiming to select a Democrat and a Republican to potentially run as a united ticket against the major parties' presidential contenders.

The Mavericks Sale

Simultaneous to these political speculations, Mark Cuban is in the process of selling a majority stake in the Dallas Mavericks to Miriam Adelson, whose family operates the Las Vegas Sands casino company.

The reported valuation of this deal stands at a substantial $3.5 billion, per the NY Post.

Cuban intends to retain shares in the NBA team and maintain full control over basketball operations under the reported agreement.

This move is perceived as a potential prelude to constructing a new arena, forming part of a resort attraction in downtown Dallas.

Cuban clarified that despite the sale, the Mavericks will not relocate to Las Vegas.

Explaining Sands Corp.'s involvement, Cuban stated that the company aims to upgrade and potentially build a new area, envisioning a Venetian-like resort in Dallas.

He expressed a desire to build an arena integrated with a resort and casino, contingent on the legalization of gambling in Texas.

Mark Cuban's ambitious plans align with his vision of enhancing the Mavericks' home base, which has been at the American Airlines Center since 2001.

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Written by: Bert Hoover

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