The billionaire will part with 10% of the Dallas Mavericks for the right price
At that price, he’s out.
Obama administration press secretary Josh Earnest said last year that the former president had “discussed“ taking a stake in an NBA franchise. Now, Mark Cuban is willing to make a deal with the former commander-in-chief. In a video published Wednesday by TMZ, the billionaire Dallas Mavericks owner said that he’d be happy to part with 10% of his basketball team…but only if Obama coughs up $300 million.
That’s probably way over Obama’s pay grade. Earlier this year, the president and his wife, Michelle Obama, landed a record-making joint book deal reportedly worth at least $65 million. Even if Obama could afford an NBA team, he’d probably snap up his beloved Chicago Bulls.
Though Cuban has been a vocal critic of Donald Trump, he’s not exactly giving Obama a discount. At the businessman’s asking price, the Mavericks would be valued at $3 billion. That’s wildly inflated according to a recent Forbes valuation of NBA teams. According to the magazine, the Mavericks are only worth $1.4 billion, making them the ninth most valuable team in the league. The Texas franchise had $194 million in revenue last year.
According to Forbes, the New York Knicks are the most valuable NBA team. The Madison Square Garden company-owned team is reportedly worth worth $3.3 billion. For $300 million, the president could even acquire a stake in the Chicago Bulls. His hometown team has a valuation of $2.5 billion.
© 2017 Dow Jones & Company, Inc. All Rights Reserved