Mark Cuban, following the sale of the majority stake in the Dallas Mavericks, announced a plan to distribute over $35 million in bonuses to team employees, with contributions from the new owners.
The payouts will be based on tenure and are expected to be received soon. (Trending: U.S. State Passes Personal Pronoun Ban)
An email from Mark Cuban to Mavs employees informing them of a plan to pay approximately $35M in bonuses in the wake of selling a majority stake of the franchise: pic.twitter.com/omoamjRA1H
— Tim MacMahon (@espn_macmahon) January 5, 2024
Cuban explained that payments are based on “a framework that took into consideration how long you have worked for the Mavs.”
“I’m excited to continue our work making the Mavs the best franchise in all of sports!” wrote Cuban.
“When you get a world-class partner who can come in and grow your revenue base and you’re not dependent on things that you were in the past,” Cuban explained.
“That’s a huge win,” said Cuban.
Cuban remains with a 27% stake and control of basketball operations, citing the potential for exponential business growth as the reason for the sale.
This move appears to be benefiting Mavericks employees.