Mark Cuban Eyeing Sports Ownership Venture After Leaving 'Shark Tank'
Mark Cuban’s departure from the popular ABC show Shark Tank sparked an obvious question from many followers: What’s next for the well-known investor?
Cuban spent 16 seasons as a member of Shark Tank, the popular investment show that features "sharks" receiving business pitches from entrepreneurs seeking investments. His departure also comes roughly a year and a half after he sold his primary ownership stake in the Dallas Mavericks.
Considering both moves made by Cuban, it was bound to set him up for a potential move in the investing world, and it appears his next focus will combine both previous ventures—investing and sports.
Cuban will reportedly become part of a group of professional sports team insiders launching a $750 million private equity fund focused on investing in small stakes of professional sports teams, according to Bloomberg.
The group includes the former chief executive officer of the controlling company of the Atlanta Falcons, Steve Bannon, and Rashaun Williams, a venture capitalist who also owns part of the Falcons.
According to Bloomberg, the focus will be on three major professional sports leagues—the NBA, NFL and MLB. The fund, known as the Harbinger Sports Partners Fund, will look to acquire up to 5% of professional sports teams.
Related: Mark Cuban, Ex-Mavericks Employee Have Tense Exchange Over Luka Doncic Trade Comments
Cuban owned the Mavericks for 23 years before selling his majority stake to the family of Miriam Adelson, and currently maintains a 27% ownership stake. However, Cuban does not handle the franchise's day-to-day decision-making following the sale, although he was initially expected to.
The 66-year-old found himself in the crosshairs of heavy scrutiny that was misdirected after Mavericks general manager Nico Harrison traded star Luka Doncic to the Los Angeles Lakers during the 2024-25 NBA season.
The trade came well after Cuban sold his majority stake in the franchise, and he admitted to having no part in the trade or the decision leading up to the deal. Still, some fans pointed their frustrations toward the team's longtime owner.
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