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Report: Mark Cuban selling majority stake of Dallas Mavericks
PITTSBURGH (KDKA) — Mark Cuban is in the process of selling a majority stake in the Dallas Mavericks to casino magnate Miriam Adelson, The Dallas Morning News reports.
The Pittsburgh native and majority owner of the NBA franchise is selling the stake to Miriam Adelson and the Adelson family, the Dallas Morning News reports. But under the terms of the deal, Cuban would still maintain full control of the team’s basketball operations. Miriam Adelson is the widow of Las Vegas casino mogul Sheldon Adelson.
In an email to CBS News on Tuesday, Cuban said, “Nothing to add. Thanks for asking!”
When reached, a spokesperson for the Mavericks also refused to comment on the report, instead referring CBS News to the Adelson family for comment.
According to NBA insider Shams Charania, the sale is at a valuation of $3.5 billion. NBA correspondent Marc Stein was first to report the news of the sale.
League rules state that any deal must be approved by the NBA Board of Governors.
According to The Dallas Morning News, if the deal is finalized, it would merge the interests of Cuban and the Las Vegas Sands Corporation, which have planned to partner in building a casino and resort in Dallas if gambling is legalized in the Lone Star state.
Cuban’s pursuit of riches and success took him from Pittsburgh to Dallas, where he made his fortune. Cuban bought the Dallas Mavericks in 2000 for $285 million from Ross Perot Jr. and has been one of the league’s most high-profile owners ever since.
The multi-billionaire also said on Monday that he will leave the TV show “Shark Tank” after the upcoming 16th season.
Cuban’s Pittsburgh roots
Mark Cuban grew up in Mt. Lebanon, which is roughly 10 miles outside of Pittsburgh, and attended the University of Pittsburgh without graduating high school. He later graduated from the Kelley School of Business at Indiana University.
“Pittsburgh’s a great town,” Cuban told CBS News in January. “My dad did upholstery on cars on West Liberty Avenue for Regency Products, my mom did odd jobs.”
His first taste of big money came when he sold a software company he’d built called MicroSolutions. His fortune soon rose to billions, and he credits Pittsburgh for some of his success.
“I think a lot of it, it’s an immigrant city,” he told KDKA-TV earlier this year. “Some of our grandparents lived through the Depression or our parents were born during the Depression and that molds you and that really defines hard work.”
NEW YORK — Former New York Gov. David Paterson and his stepson were attacked in New York City on Friday night, authorities said.
The incident occurred just before 9 p.m. on Second Avenue near East 96th Street on the Upper East Side, according to the New York City Police Department.
Police said officers were sent to the scene after an assault was reported. When officers arrived, police say they found a 20-year-old man suffering from facial injuries and a 70-year-old man who had head pain. Both victims were taken to a local hospital in stable condition.
In a statement, a spokesperson for the former governor said the two were attacked while “taking a walk around the block near their home by some individuals that had a previous interaction with his stepson.”
The spokesperson said that they were injured “but were able to fight off their attackers.”
Both were taken to Cornell Hospital “as a precaution,” he added.
Police said no arrests have been made and the investigation is ongoing.
The 70-year-old Paterson, a Democrat, served as governor from 2008 to 2010, stepping into the post after the resignation of Eliot Spitzer following his prostitution scandal. He made history at the time as the state’s first-ever Black and legally blind governor.
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A 17-year-old boy was critically injured and a person is in custody after a gunman opened fire on a SEPTA bus in North Philadelphia Friday evening, police said.
At around 6:15 p.m., Philadelphia police were notified about a shooting on a SEPTA bus traveling on Allegheny Avenue near 3rd and 4th streets in North Philadelphia, Inspector D F Pace told CBS News Philadelphia.
There were an estimated 30 people on the bus at the time of the shooting, Pace said, but only the 17-year-old boy was believed to have been shot. Investigators said they believe it was a targeted attack on the teenager and that he was shot in the back of the bus at close range.
According to Pace, the SEPTA bus driver alerted a control center about the shooting, which then relayed the message to Philadelphia police, who responded to the scene shortly.
Officers arrived at the scene and found at least one spent shell casing and blood on the bus, but no shooting victim, Pace said. Investigators later discovered the 17-year-old had been taken to Temple University Hospital where he is said to be in critical condition, according to police.
CBS Philadelphia
Through their preliminary investigation, police learned those involved in the SEPTA shooting may have fled in a silver-colored Kia.
Authorities then found a car matching the description of the Kia speeding in the area and a pursuit began, Pace said. Police got help from a PPD helicopter as they followed the Kia, which ended up crashing at 5th and Greenwood streets in East Mount Airy. Pace said the Kia crashed into a parked car.
The driver of the crashed car ran away but police were still able to take them into custody, Pace said.
Investigators believe there was a second person involved in the shooting who ran from the car before it crashed. Police said they believe this person escaped near Allegheny Avenue and 4th Street, leaving a coat behind.
According to Pace, police also found a gun and a group of spent shell casings believed to be involved in the shooting in the same area.
“It’s very possible that there may have been a shooting inside the bus and also shots fired from outside of the bus toward the bus,” Pace said, “We’re still trying to piece all that together at this time.”
This is an active investigation and police are reviewing surveillance footage from the SEPTA bus.