Shark Tank investor Mark Cuban, in a YouTube video, revealed the changes that he had brought within the Dallas Mavericks after he bought the team in the 2000s. He had purchased the same for $285 million after selling his company $5.7 billion in stock.
The Shark Tank investor says that he wanted to acquire the team, not as a financial investment, but because he was genuinely passionate about the game. However, the acquisition turned out to be a profitable one.
He said that his main goal after the purchase went down, was to change the culture of a franchise that has been struggling among its peers for over a decade.
Cuban's first step was to engage with the players and identify key areas for improvement from the inside. Reminiscing about Gary Trent, Mark says that he had brought up the issue of poor accommodations and meals during the games.
Talking about how he solved this issue, Shark Tank's Mark said,
"We upgraded immediately, so we stayed at nothing but the best hotels. We made sure they had not only room service but healthy foods. We brought in nutritionists. Dirk Nowitzki used to say that he would eat chips and candy bars before a game. We gave him the opportunity to be healthy."
Shark Tank investor Mark Cuban highlights the changes he brought to Dallas Mavericks
Mark Cuban, the Shark Tank investor, had bought the Dallas Mavericks when the team was at its lowest. This meant, according to him, he had to change the culture of it from the inside out.
Working on the health of its players, Mark said that he had brought a nutritionist. Providing proper accommodation to them as well, he upgraded the team's travel arrangements.
Another aspect that Shark Tank investor Mark addressed beyond the lifestyle enhancements, was the discrepancies in the team's training infrastructure. At the time when he acquired the team, it had only four coaches, a head coach, an assistant coach, and two additional staff members who looked over skill development.
He noted that the management was allocating more resources toward training office employees than to developing the skills of their athletes.
He explained,
"I realized that we were spending more money to train our office employees how to use Excel and Microsoft Word than we were on developing our players to improve their skills, despite the fact that we were paying those players 100s of 1,000s and millions of dollars each.
Continuing, he added,
I went out and found former Mavericks Morlon Wiley, Greg Riley, and a long, long list and said, 'We wanna bring you in and give you each an individual player to work with.' And it was up and running within weeks. It also changes the culture so that they understand that I'm ready to do whatever it takes to win."
All these strategic gestures made by Shark Tank's Mark Cuban not only transformed the Mavericks into a more competitive team, but later also led to them winning the NBA Championships in 2011.
Through his data-driven decisions and acknowledging the issues that players were facing on a personal level such as accommodations and lack of nutritional supplements, Mark led the team to victory.
New episodes of Shark Tank season 16 are released weekly on ABC at 8 PM Eastern Time on Fridays. Later, they can be streamed online through Hulu.
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