Mark Cuban’s post-“Shark Tank” plans appear to be taking shape.
As the Dallas Mavericks minority owner wraps his 14-year run on the popular ABC program Friday, a new report says he’s teaming up with sports insiders to invest in major American sports clubs.
Cuban is a part of a group of professional sports team insiders — including Steve Cannon, the former chief executive officer of the company that controls the NFL’s Atlanta Falcons, and Rashaun Williams, a venture capitalist and limited partner in the Falcons — launching a $750 million private equity fund designed to take small stakes in US pro sports teams, Bloomberg reported Thursday.
The Harbinger Sports Partners Fund will focus on acquiring stakes of as much as five percent, the group said in a statement, adding that it expects to invest $50 million to $150 million in each transaction and use secondary offerings to exit the positions within seven to 10 years.
The group will target investment opportunities in the NBA, NFL and MLB.
Thursday’s report dropped one day before the Season 16 finale of “Shark Tank,” which will serve as Cuban’s final episode.
“My last @ABCSharkTank is this Friday,” Cuban wrote Thursday on X. “Gonna miss it. But it was time to move on Make sure to watch !”
In a preview video of Friday’s episode, “Shark Tank” teased Cuban’s “heartfelt farewell” to fellow Sharks Kevin O’Leary, Barbara Corcoran, Lori Greiner, Robert Herjavec and Daymond John.
“I love you guys like family,” Cuban said.
The billionaire businessman revealed his plans to exit the series back in 2023.
“I just want to have a couple summers with my teens before they go off on their own,” Cuban told The Hollywood Reporter. “Nothing to do with the show. I love it. I love being on it. I love what [it] represents and how it motivates entrepreneurs around the world.”
Cuban has been a “shark” on the program since 2011, offering to invest in select products pitched by entrepreneurs.
His swan song airs Friday at 8 p.m. on ABC.