Mavericks owner Mark Cuban expects losses over $100 MILLION due to coronavirus pandemic

American business entrepreneur Mark Cuban expects losses exceeding $100 million in the NBA due to the ongoing coronavirus pandemic. The pandemic meant that the NBA's revenues have taken a massive hit especially with fans not allowed inside the arena. Cuban, who owns the Dallas Mavericks in the NBA, is hopeful that fans can return to the stadiums soon as franchises try and combat financial struggled ahead of the new season that kicks of in less than two weeks. 

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Mark Cuban NBA team: Mavericks owner expects losses exceeding $100million due to pandemic 

Speaking to The Hardline on Sportsradio 96.7 FM/1310 The Ticket [KTCK-AM], Dallas Mavericks owner Mark Cuban discussed all things concerning the new NBA season. The Shark Tank star said that he will be definitely suffering losses this season due to the pandemic which will be well over the nine-figure mark. The 62-year-old, however, said that he is fortunately in a position to afford these hits and will continue paying the players and the staff as it is the right thing to do. 

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Cuban, however, stated that he is optimistic the Mavs' arena will be back at full capacity later this season. The mavericks owner said that franchise will soon announce the team’s plans for fan attendance to start the new NBA season, but that Texas’ state guidelines would only allow the team to host 5,000 people in the 20,000-seat arena for each game at the moment. Cuban is optimistic believes the team will have no problem selling out seats once fans are comfortable attending large gatherings again after the vaccine is out. 

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Mark Cuban investments: Mark Cuban net worth 

The Dallas Mavericks are the ninth-most valuable team in the NBA with an estimated worth of $2.4 billion, according to Forbes' latest valuations. Mark Cuban has an estimated net worth of $4.2 billion. The 62-year-old had paid $280 million to become a majority owner of the Mavericks in 2000 and over the last two decades, their valuation has just soared. Cuban has stakes in Magnolia Pictures, AXS TV and dozens of small startups. He founded video portal Broadcast.com with fellow Indiana University alum Todd Wagner in 1995 and sold it to Yahoo for $5.7 billion in 1999.

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Disclaimer: The above Mark Cuban net worth information is sourced from various websites and media reports. The website does not guarantee a 100% accuracy of the figures.

(Image Courtesy: AP)