Mark Cuban buys a Mustang (well, a town called Mustang) in Texas

Report: Billionaire owner of Dallas Mavericks purchases an entire hamlet — as a favor to a friend

National Weekend Edition /
Dec.December 04, 2021 01:59 PM

Mustang, Texas is now owned by billionaire Mark Cuban. (J Elmer Turner Realtors, Inc.)

Some kids grow up dreaming of one day owning a Mustang, the original Ford pony car that inventing the term “Detroit muscle” thanks to its famous rear-wheel-drive power.

Then there’s Mark Cuban.

The “Shark Tank” star and owner of the NBA’s Dallas Mavericks is now the proud landlord of the entire Texas town of Mustang, located on Interstate 48 in Navarro County, according to the Dallas Morning News.

County deeds show the 77-acre hamlet with a population of about 23, located about 55 miles south of Dallas, was purchased by a company controlled by Cuban after being on the market since 2017 with an initial price tag of $4 million, the paper reported.

Dallas real estate broker Mike Turner told the publication he had lots of interest in the property, but even when the asking price was lowered to $2 million, there weren’t any takers.

In stepped the billionaire entrepreneur, who told the paper he bought it because a friend of his needed to get it off his hands. The sale price was not revealed.

The town, which was founded in the early 1970s, was home to a local bar and strip joint when most of Navarro County prohibited liquor sales, the paper reported. It’s most famous for a grisly murder that occurred at a nightclub there back in 2008.

According to court records, on Oct 2, 2008, a 34-year-old oilfield welder got into an argument with the club owner, who lashed him with a sjambok, a South African whip traditionally made from rhinoceros hide. The owner then called over two employees who dragged the victim by his ankles to the parking lot, slamming his head on the concrete along the way. The medical examiner testified he died from trauma to the brain. He also had whip bruises on his face and chest.

The club has since been closed, the paper reported.

[Dallas Morning News] — Vince DiMiceli





    Related Articles

    arrow_forward_ios
    KKR founders Henry Kravis, George Roberts step down as co-CEOs
    KKR founders Henry Kravis, George Roberts step down as co-CEOs
    KKR founders Henry Kravis, George Roberts step down as co-CEOs
    Real estate’s richest get richer on Forbes’ billionaire list
    Real estate’s richest get richer on Forbes’ billionaire list
    Real estate’s richest get richer on Forbes’ billionaire list
    After Newmark partnership ends, Knight Frank inks deal with Cresa
    After Newmark partnership ends, Knight Frank inks deal with Cresa
    After Newmark partnership ends, Knight Frank inks deal with Cresa
    The hotel recovery is far from complete
    The hotel recovery is far from complete
    The hotel recovery is far from complete
    HFZ, partners put historic Detroit building on the market
    HFZ, partners put historic Detroit building on the market
    HFZ, partners put historic Detroit building on the market
    These hotel markets have entered a depression
    These hotel markets have entered a depression
    These hotel markets have entered a depression
    Cherre CEO L.D. Salmanson (Cherre/Facebook)
    Real estate data firm Cherre raises $50M
    Real estate data firm Cherre raises $50M
    (Tropicana Las Vegas via Facebook, Bally's Corp)
    Bally’s buys Las Vegas’ Tropicana casino for $150M
    Bally’s buys Las Vegas’ Tropicana casino for $150M
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...