Mark Cuban is working on a deal to sell a majority stake in the NBA franchise to the family that runs the Las Vegas Sands casino company, a person with knowledge of the talks said Tuesday night.
The agreement would be in the valuation range of $3.5 billion and take weeks for the league to process, according to the person, who spoke to The Associated Press on condition of anonymity because details weren't being made public.
Cuban would retain control of basketball operations in the deal. NBA reporter Marc Stein was the first to report the potential sale.
Las Vegas Sands Corp., "to fund the purchase of a majority interest in a professional sports franchise pursuant to a binding purchase agreement, subject to customary league approvals."
The filing identified Miriam Adelson, a medical doctor and widow of casino magnate Sheldon Adelson, and the Miriam Adelson Trust as sellers, but it didn't specify a team, league or location.
If the entirety of the $2 billion goes toward the purchase, it would mean the Adelson family could be acquiring at least 57% of the NBA team -- based on the $3.5 billion valuation.
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. 
Under Cuban and with Nowitzki as the face of the franchise, the Mavericks enjoyed the most successful on-court stretch in their history in the 2000s. Nowitzki became a first-ballot Hall of Famer and led Dallas to its first and only NBA title in 2011. The team has declined over the past decade but remains a contender in the Western Conference thanks to current star Luka Doncic.
The Mavericks are currently worth $4.5 billion, according to Forbes magazine.
Miriam Adelson has a current net worth of $32.3 billion, per Forbes.
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