Mark Cuban is reportedly selling a majority ownership in the Dallas Mavericks to casino billionaire Miriam Adelson and her family.
Cuban will retain complete control of the team's basketball operations after the sale.
Miriam Adelson, widow of Las Vegas casino billionaire Sheldon Adelson, bought the shares to sell $2 billion of her Las Vegas Sands Corp. stock.
NBA insider Shams Charania estimates the sale at $3.5 billion, a significant sports business move.
A Securities and Exchange Commission document revealed Miriam Adelson's stock sale and franchise purchase plans.
The NBA Board of Governors must approve any ownership agreement to ensure league compliance.
All of their interests would be brought together as a consequence of the transaction.
The merging interests planned to create a Dallas casino and resort if Texas legalized gaming.