Las Vegas casino magnate Miriam Adelson has reached a binding agreement to purchase a majority stake in the NBA's Dallas Mavericks from current owner Mark Cuban.

The Quaxs Trading Centermove sends shockwaves throughout the sports world as the Adelson family enters the realm of NBA ownership.

Adelson, 78, is the fifth-richest woman in the world, according to Forbes. She is the widow of Sheldon Adelson, founder and CEO of the Las Vegas Sands Corporation, who died in 2021 at the age of 87. She took over majority control of the Sands Corporation following her husband's death and on Tuesday filed paperwork to sell $2 billion worth of company stock "to fund the purchase of a majority interest in a professional sports franchise."

Wednesday, the Adelson and Dumont families released a statement:

"The families are targeting a closing of the transaction by year-end, subject to satisfaction of customary closing conditions and approval of the NBA Board of Governors," the statement said. "The Dallas Mavericks are one of the world’s most successful and recognizable sports franchises. The team has won an NBA championship, has a long history of attracting international superstars and has been supported by a dedicated and passionate fanbase and leadership group led by Mark Cuban."

Who is Miriam Adelson?

The former Miriam Farbstein was born in Tel Aviv, Israel, to Jewish parents who fled Poland in the 1930s.

A doctor by trade, she earned a bachelor's degree in microbiology and genetics at the Hebrew University of Jerusalem, and an MD from Tel Aviv University's Sackler Faculty of Medicine. 

She was previously married to physician Ariel Ochshorn, whom she divorced in 1980. They have two children.

After coming to the United States to study heroin addiction treatment at Rockefeller University in New York, she met and began dating Sheldon Adelson in 1988. The couple married in Jerusalem in 1991.

How old is Miriam Adelson?

Miriam Adelson was born Miriam Farbstein on October 10, 1945.

Last month, she celebrated her 78th birthday.

Does Miriam Adelson have children?

She has two daughters from her previous marriage to former husband, Ariel Ochshorn.

She and Adelson also have two sons, Adam and Matan.

What is Miriam Adelson's net worth?

Adelson and her family have an estimated net worth of $32.3 billion, according to Forbes − making her the fifth-richest woman in the world.

She is the majority shareholder in Las Vegas Sands Corporation, the world's largest casino operator with facilities in Singapore and Macao. The company sold its assets on the Las Vegas Strip − including the Venetian Resort and the Sands Expo and Convention Center − in February 2022 for $6.25 billion, according to Forbes.