Why Mark Cuban resigned from Mavericks ownership: His kids don't need “all this abuse.”

Billionaire and entrepreneur in December 2023 Mark Cuban sold a controlling interest in the Dallas Mavericks, a National Basketball Association team, which he acquired in 2000 after several successful business sales.

In a recent podcast appearance, Cuban discussed the team's success and why it was time to move on.

Buying the Dallas Mavericks, Song Reminder: Cuban, who felt an entrepreneurial spirit from a young age, recalled deciding to approach the Mavericks' owner about purchasing the team after noticing that the season's home game was not sold out.

“We are undefeated. We should have a good team. And I think I can do better,” Cuban recalled on the “Life in Seven Songs” podcast.

Cuban said he closed the deal in less than a month and became owner a few months later.

The billionaire paid $285 million for the team in 2000.

When asked to choose a song that sums up his time with the Mavericks for the podcast in which celebrities choose songs for moments in their lives, Cuban chose “Eminence Front,” a song by The WHO.

“In 2001 we moved to a new arena and the marketing director was a guy named “ Matt Fitzgeraldwho was a good friend of mine and a basketball friend who unfortunately died of ALS a few years ago. And he came up with this song.

Cuban said the idea of ​​using “Eminence Front” was similar to what the Chicago Bulls did during the game Michael Jordan era that uses the same music and makes it instantly recognizable to fans.

Fitzgerald suggested the song to The Who, and Cuban said he promised the former Mavericks employee as he was dying that it would “always be the opening song of the game” as long as he was there.

Cuban said Mavericks fans immediately think of games when they hear the song.

“As the beginning of this song plays, a hype video plays on the Jumbotron for everyone to see. And so these are the highlights of the last game. It introduces our starting lineup.”

Past the Mavericks: Cuban recently sold a majority stake in the Mavericks to the casino magnate Miriam Adelson, The team is valued at $3.5 billion.

Cuban remains associated with the team as deputy governor and maintains control of the Mavericks' basketball operations while maintaining a 27% ownership stake. The billionaire remains hopeful that Adelson's involvement in a potential casino and real estate projects can help if the team builds a new arena in the future.

Cuban cites his children, ages 15, 18 and 21, as a key reason for withdrawing his commitment to the Mavericks.

“They are under a lot of pressure. And it’s not always good to manage a professional sports team,” Cuban said.

The billionaire said if the team wins, that's great and everyone loves him.

“But if you have a bad season, your kids are just on social media. I just don't want them to put up with all this abuse and everything. And that was the main reason.”

During the interview, Cuban admitted that his children's lives are very different than his childhood.

“They don’t have that unique privacy. You know, the ability to just go unnoticed that I had, and that’s hard.”

Cuban said he doesn't feel sorry for his children in that regard, but knows it's not always easy for them.

“I give them a lot of respect. They are good children. You have a big heart. You are smart. They are respectful.”

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Image created with artificial intelligence via Midjourney.