(JTA) — Dallas Mavericks owner Mark Cuban is reportedly selling a majority stake in his NBA franchise to casino magnate and Jewish philanthropist Miriam Adelson.
Cuban, the Jewish billionaire known for entrepreneurial endeavors including his starring role on ABC’s reality show “Shark Tank,” is selling a stake valued at $3.5 billion to Adelson, the widow of longtime Jewish megadonor Sheldon Adelson.
The deal was first reported by NBA reporter Marc Stein.
The deal represents something of a partnership for Cuban and Adelson, whose daughter is on the Israeli version of “Shark Tank,” according to Sports Illustrated. Cuban will retain control over the team’s basketball operations, while Adelson is expected to bring her casino know-how to Dallas, where some lawmakers are seeking to legalize recreational gambling.
The deal means Adelson, 78, will no longer hold a majority of shares in The Sands, the casino business that has generated most of her family’s wealth and allowed her to donate prolifically to Jewish and pro-Israel causes. Earlier on Tuesday, Bloomberg reported that she was selling $2 billion in stock in order to “acquire a majority stake in a professional sports team.” Adelson’s net worth is estimated at over $30 billion, making her the richest Israeli in the world.
Cuban, 65, purchased the Mavericks in 2000 for $285 million. The team is the seventh-most valuable NBA franchise, according to Forbes, which also estimates Cuban’s net worth at $6.2 billion. Cuban also announced Tuesday that he would be leaving “Shark Tank” next year.
Both Cuban and Adelson have been involved in Jewish causes, Adelson heavily so.
Cuban, whose paternal grandparents had their last name changed from Chabenisky after emigrating from Russia, has said he encountered antisemitism growing up. Cuban is one of the most outspoken owners in all of professional sports on a variety of political issues — including antisemitism.
The Adelson Family Foundation has been a prolific giver to Jewish organizations, most notably Birthright Israel. Miriam and Sheldon Adelson have also been known for their support of Republican politicians, including Donald Trump. Miriam Adelson scaled back her philanthropy during the pandemic when The Sands was not delivering dividends for its shareholders.
The Mavericks do not have any Jewish players, but one of the team’s stars is Kyrie Irving, the All-Star guard who caused controversy last year after he promoted an antisemitic film online and initially refused to apologize. Irving was traded to Dallas in the midst of the scandal.
“If there was just some dude on the street corner saying what Kyrie said, or Kanye said, you’d just assume they’re crazy and keep on walking, right?” Cuban said at the time, referencing the rapper Kanye West’s months-long antisemitism scandal. “But when they’re a celebrity, you can’t do that, because you have a platform.”
The Mavericks are the third NBA team to be bought by a Jewish billionaire in the past year, following Mat Ishbia’s purchase of the Phoenix Suns (and the WNBA’s Phoenix Mercury) and Gabe Plotkin’s acquisition of the Charlotte Hornets.
The post Mark Cuban selling Dallas Mavericks to Miriam Adelson, the Jewish philanthropist and casino owner appeared first on Jewish Telegraphic Agency.
Washington Says It Will Not Back Expanded IDF Operations in Rafah
i24 News – Medics reported that Israeli airstrikes overnight in Gaza’s Rafah claimed the lives of 17 individuals on Saturday.
The attacks come as tensions escalate, with over a million Palestinians densely packed into the border city, awaiting a potential full-scale offensive amid widespread destruction across the enclave and limited avenues of escape.
Israeli Prime Minister Benjamin Netanyahu’s office announced plans for military action, aiming to evacuate Rafah’s population and dismantle four Hamas battalions allegedly stationed in the area.
As IDF prepares for an intense ground operation in Rafah, its efforts to create safe corridors for Palestinian civilians are made more difficult by the fighting ongoing throughout Gaza. @mcauliffe_marym joins @Nicole_Zedek with the latest updates: pic.twitter.com/83PJfNMEdd
— i24NEWS English (@i24NEWS_EN) February 10, 2024
Unlike previous conflicts where civilians were urged to seek refuge in southern Gaza, the current situation presents a dilemma as there are no relatively unscathed areas left, leaving residents with nowhere to flee. Aid agencies have warned of the potential for a significant loss of civilian lives should an assault on Rafah occur.
Reports from Gaza City indicate intensified fighting on Saturday, with residents reporting clashes amid the ongoing hostilities.
An Israeli official, speaking on condition of anonymity to Reuters, disclosed plans to coordinate the relocation of Rafah residents northward in anticipation of potential military action. However, Egypt has stated its refusal to permit mass displacement of Palestinians into its territory,.
The post Washington Says It Will Not Back Expanded IDF Operations in Rafah first appeared on Algemeiner.com.
Numerous Weapons Discovered in UNRWA Premises in Gaza
i24 News – The IDF revealed that it had discovered, in the areas of Shati and Tel al-Hawa in northern Gaza, twenty terrorist infrastructure sites including a tunnel entrance near an UNRWA school. The tunnel, an “important part of Hamas’ military intelligence services,” passed under the building which serves as the main headquarters of UNRWA in the Gaza Strip.
Large quantities of weapons were found in rooms of the building, including rifles, ammunition, grenades and explosives. Intelligence and documents discovered in the offices of UNRWA officials confirmed that these offices had also been used by Hamas terrorists, the military claims.
The post Numerous Weapons Discovered in UNRWA Premises in Gaza first appeared on Algemeiner.com.
Qatar Says Hamas ‘Promises’ Hostages Received Medicines, But Offers no proof
i24 News – In a recent development, Qatar has informed both Israel and France that Hamas has purportedly agreed to ensure that hostages receive the essential medicines delivered to them in the Gaza Strip.
Last month, Qatar facilitated the transfer of these crucial drugs to Gaza following a comprehensive list compiled with input from the hostages’ respective doctors. The medications in question are deemed “vital,” primarily aimed at addressing chronic illnesses among the hostages.
This development comes amidst ongoing efforts to address the welfare and medical needs of the hostages held in Gaza, with international stakeholders closely monitoring the situation for further updates.
The post Qatar Says Hamas ‘Promises’ Hostages Received Medicines, But Offers no proof first appeared on Algemeiner.com.