Tag Archives: gambling

Mark Cuban Loses The Dallas Mavericks From A Bet

empire-sports-mark-cuban-loses-dallas-mavericks-bet-gamble-ownerDallas, Texas-

One of the most infamous owners in the NBA has to be Dallas Mavericks owner Mark Cuban. Cuban is known for being a billionaire, and star of the ABC television show “Shark Tank.” Cuban made his fortune by taking risks throughout his life, and it paid off substantially for him up until now.

Cuban had placed a bet with a fellow business partner, and has lost the Dallas Mavericks because of it. The name of the person who has won the bet has not yet been released, but soon enough his or her face will have to surface. The bet was said to be made over a product Mark had invested in on the television show Shark Tank.

If the product made X amount of money in the first year of running the business, Cuban’s partner would pay  triple the profits. If it didn’t make the money, Cuban would lose his NBA team. Fate did not shine down on Cuban, because now he is legally forced to give up the team.

“All I can say is that the person who won the bet has some legal background, because there is nothing I can do to get the Mavericks back.” said Cuban. “It is truly embarrassing in a sense. I loved my team, and didn’t realize that they meant more to me than some stupid bet. Granted, this does suck, it is my mistake and I am a man of my word. For now the person will take the team, but I am working on getting them back, but the contracts and paperwork is making it a lot harder than I thought it would be.”

The players have not commented on the news of Cuban losing the team, but perhaps they will see it as a fresh beginning.