Getty Image / Tom Pennington
- Dallas Mavericks owner Mark Cuban has more experience cross-across across industries than the vast majority of CEOs and Founders on the planet
- As a guest on ‘Men in Blazers’, Mark Cuban explains how owning a professional sports team is a unique business experience that doesn’t operate by the normal rules
- Read more articles on BroBible right here
Dallas Mavericks owner Mark Cuban is a very wealthy man. His latest estimated net worth has him in the realm of $4.5 BILLION and counting. And he is BY FAR the wealthiest person on Shark Tank as he’s the only ‘shark’ that’s a billionaire.
One of the things that sets Mark Cuban apart from the vast majority of billionaires is how public-facing he is. He’s both a billionaire, CEO, and a celebrity. And part of maintaining his celebrity status is frequently donating his time to talk about success.
Cuban was a guest on The Men in Blazers Show where he explained the key difference in owning a professional sports team. Owning a pro sports franchise is the ultimate dream for many successful people but it’s unlike any other business. This is pretty interesting insight form Mark, check it out:
Mark Cuban Explains How Owning A Sports Team Is Different From Every Other Business
"As an owner, you have to realize the fans own the team."
This week on the MiB Show, @dallasmavs owner Mark Cuban joins Rog to discuss how the fan relationship makes sport such a unique business. Available to stream TODAY, 2:30 pm ET on @peacockTV @NBCSportsSoccer. pic.twitter.com/PwwfP7eUDq
— Men in Blazers (@MenInBlazers) January 23, 2022
If you’d rather read, than watch the clip, here is Mark Cuban’s answer after Roger Bennett asks him ‘what is the greatest life truth that you’ve learned as a sports owner that you didn’t know before?’
I think the biggest life truth is that it’s not a regular business. Google can have the best quarter and make more money than any company in the history of companies and nobody’s throwing a parade. If Google doesn’t close the deal, there’s nobody who is walking out of the office that’s thinking ‘this is the worst thing that’s ever happened to me.’ But with sports, that’s what we do.
With sports, I get requests like ‘can my son or daughter who just horrifically died of cancer, can they be buried in a jersey from their favorite player?’ And that doesn’t happen with other businesses. I guess the great life truth about sports is how emotionally attached we get to it. And as an owner, (I) have to realize (I) don’t really own the team, the fans own the team.
Interestingly, Mark Cuban also recently spoke with CNBC where he told them that ‘80% of his investments’ outside of Shark Tank are all crypto-related. I had no idea he was so bullish on crypto.
Imagine if we lived in a world where people were so fanatic about corporate America they asked to be buried in the suits of their c-suite icons. After writing that out, I can actually envision some of the diehard Elon Musk fans I’ve seen on Twitter requesting to be buried in his jacket or something like that. But Mark’s point is valid, sports is different from every other business because of the emotional attachment.
That’s not to say there isn’t an emotional attachment tied to other businesses. I’m very fond of specific fishing rod manufacturers and reels because I’ve had lifelong success with them. My emotions often dictate which airlines I book when traveling because of past (horrible) experiences. But it’s not at all like sports and only the top-level employees of professional sports organizations really get that perspective that Mark Cuban has here.