Ex-NBA team owner Mark Cuban is open to joining an investment group to acquire a percentage of the Dallas Cowboys investment group after the team said it would consider selling to the right partner
Dallas Mavericks owner Mark Cuban and Dallas Cowboys owner Jerry Jones pose during the 2010 NBA All-Star Weekend
Mark Cuban could become a part-owner of the Dallas Cowboys with approval from Jerry Jones
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The Dallas Cowboys have spent 35 years under the ownership of the outspoken and opinionated billionaire Jerry Jones, but the franchise isn't shutting its doors on possible minority partners like Mark Cuban while keeping the NFL team in the family.
Cuban used to own the Dallas Mavericks and told reporters his Harbinger fund would be interested if the Cowboys ever looked for new investors. Harbinger Sports Partners says on its website that it looks to find, improve, and build value in sports franchises.
The Cowboys are the NFL's most valuable brand, worth about $13 billion. Jones has owned the team since 1989 and says they are not looking for investors right now, but a name like Cuban could get their attention.
Meanwhile, NFL fans were surprised after the Baltimore Ravens made Zay Flowers one of the league's highest-guaranteed-paid pass catchers.
"That's exactly why if you're me, you would be open to that, because of the man," Jones told The Dallas News. "I have all the respect in the world for him and I know what he did for the Mavericks and what he's done for basketball."
Jones added that teams considering financial streams want to associate with people who love the game and want to improve it. "Mark leads the way in that," Jones said.
Cuban is a lifelong Pittsburgh Steelers fan and previously attempted to become a team owner in the city of Pittsburgh. COO and son of Jerry, Stephen Jones, said the Cowboys would not rule it out, but would be highly selective.
Mark Cuban shakes hands with Jerry Jones
The Cowboys are not open to selling elsewhere
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Jones called the NFL's private-equity rule "a great tool" for owners who want partners. NFL owners approved private equity investments in August 2024, allowing approved firms to buy up to 10 percent of a franchise.
NFL rules state that each stake must be at least three percent. The New England Patriots, Buffalo Bills, Miami Dolphins, and Los Angeles Chargers have already executed or announced minority deals, while Arctos owns stakes in Buffalo, the Chargers, and Cleveland.
Arctos is the only private company with passive stakes in three NFL teams. The company cannot vote on team decisions or serve as a top Cowboys executive.
Jerry Jones, Mark Cuban, and more attended the 2016 DirecTV Super Saturday Night party
Cuban expressed regret over who he sold the Mavericks to in 2023
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Cuban bought the Mavericks for $285 million in 2000 and led them to an NBA title by 2011. He later sold control of the team at a $3.5 billion valuation but kept a 27 percent stake.
Cuban has said he regrets selling to Miriam Adelson and her son-in-law, but does not regret selling the team itself. The Mavericks have made the NBA playoffs once since Cuban sold the team in 2023 and traded franchise star Luka Doncic to the Los Angeles Lakers.
The Cowboys won three Super Bowls in four years from 1992 to 1995 under Jerry Jones, but have not returned to the NFC Championship Game since that last title season.