Miriam Adelson, Sheldon Adelson’s widow and member of the influential Adelson family, has initiated a $2 billion sale of shares in Las Vegas Sands Corp., a renowned hotel and casino company, according to a recent Bloomberg report. This move is part of a strategic plan to acquire a majority stake in a professional sports team.
The Adelsons have already acquired a binding purchase agreement for an unspecified team, as detailed in a recent regulatory filing. The family will use the proceeds from this share sale, in combination with their own capital, to finalize the team acquisition, pending required league approvals.
A noteworthy detail is that the team in question is an NBA franchise operating in a major market. While the precise details are yet to be officially announced, those familiar with the company state that the news will be public soon, further solidifying the Adelson family’s significant influence within the realms of business and professional sports.