Mark Cuban's Majority Sale of Mavericks Receives Final Approval

On Wednesday, the NBA’s Board of Governors approved the sale of the Dallas Mavericks from Mark Cuban to the families of Dr. Miriam Adelson and Sivan and Patrick Dumont, the league said in a statement. Mr. Dumont, President and Chief Operating Officer of Las Vegas Sands Corp., will serve as the Mavericks’ Governor. The transaction is expected to close this week. What it means: For the first time in 23 years, Cuban will not be the majority owner of the Mavericks. In a unique arrangement, Cuban will retain a 27%...