NBA approves sale of Dallas Mavericks to Miriam Adelson family

LAS VEGAS (KSNV) — The NBA has approved the sale of the Dallas Mavericks to the family of Dr. Miriam Adelson.

The league announced Wednesday that the Board of Governors greenlit the transaction, which is expected to close this week.

Patrick Dumont, Adelson's son-in-law and the president and chief operating officer for Las Vegas Sands Corp., will serve as Mavericks governor.

Las Vegas Sands disclosed to regulators last month that Adelson was selling $2 billion in company stock to fund the purchase of a professional sports team. Adelson's family later confirmed there was an agreement to buy the Mavericks from Mark Cuban.

The agreement is in the valuation range of $3.5 billion, according to a person who spoke to The Associated Press.

The 78-year-old Adelson, who is a medical doctor, will retain 51.3% of Las Vegas Sands company shares following the sale, according to the regulatory filing.