We are now learning the Las Vegas Sands group has bought even more prime Dallas Mavericks properties.
The Las Vegas-based casino and resort company purchased the Mavs for a reported $3.5 billion from owner Mark Cuban, and that includes the deed to more than a dozen acres on Stemmons Freeway at Inspiration Drive in Dallas’ Design District.
The property is just across the 1:35 freeway from Victory Park and includes a building now used as the Mavericks practice facility. Cuban at one time considered using the property as a new arena for the team. That property is valued at $42.9 million.
Following the sale, Cuban has retained a 27% share in the Mavericks and control over basketball operations.
The Las Vegas Sands group has also purchased 108 acres across from the old Texas Stadium with the rumored idea of building a resort and new basketball arena in that space. Some speculate that long-term plans are for a casino, but that would require a state law change.
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