Full Breakdown
Jerry Jones Signals Openness to Selling a Minority Stake in the Dallas Cowboys to Mark Cuban
8/5/2026, 4:17:29 PM
Core Development: Potential Minority Stake Sale
Dallas Cowboys owner Jerry Jones told *The Dallas Morning News* that he would be “open” to selling a minority share of the franchise to former Dallas Mavericks owner Mark Cuban. Cuban, speaking to *The Dallas Morning News* reporter Calvin Watkins, said his private-equity vehicle, Harbinger Sports Partners, would also be “open” to buying a stake. The discussion follows recent comments from Cowboys executive Stephen Jones, who said the family would not rule out selling a portion of the team now that NFL rules permit limited private-equity ownership.
Background & Context
Jones purchased the Cowboys in February 1989 for $140 million and has built the club into the league’s most valuable property, with a $13 billion valuation reported by *Forbes*. In 2022 the NFL approved a rule allowing private-equity firms to acquire 3 %–10 % of a franchise, a change Jones has publicly supported as a way to bring “well-capitalized partners” into the league.
Data & Statistics
- Franchise value: $13 billion (Forbes).
- Ownership limit: NFL rule permits up to 10 % of a team to be sold to approved private-equity groups.
- Cuban’s current holdings: 27 % of the Dallas Mavericks; minority stake in MLB’s Oakland Athletics via Harbinger Sports Partners.
Official Statements & Responses
- Jerry Jones emphasized respect for Cuban’s track record, noting that Cuban “leads the way” and would be a “high-quality” partner for the Cowboys.
- Mark Cuban confirmed that Harbinger Sports Partners would be “open” to exploring a purchase, while acknowledging that the fund is not currently on the NFL’s approved list of investors.
- Stephen Jones reiterated that any potential partner would be scrutinized carefully, stating the family “wouldn’t rule out” a minority sale but would be “very particular” about who joins the ownership group.
Verbatim Quotes
- “I’m sure our Harbinger fund would be open to it,” — Mark Cuban
- “That’s exactly why if you’re me, you would be open to that is because of the man. I have all the respect in the world for him and I know what he did for the Mavericks and what he’s done for basketball,” — Jerry Jones, from cowboys executive
- “That’s exactly why if you’re me, you would be open to that, because of the man,” — Jerry Jones, from cowboys executive
Conflicting Reports & Gaps
- Approval status: Cuban’s Harbinger fund is not among the private-equity groups cleared by the NFL to acquire a stake, creating uncertainty about the transaction structure.
- Financial terms: Neither party has disclosed a price range or the percentage of ownership that might be offered.
- Timeline: No specific schedule has been provided for negotiations or a potential closing.
What’s Next
The NFL continues to allow up to a 10 % minority sale to approved investors, and the Cowboys’ front office has indicated that any future deal will hinge on identifying a partner that meets the family’s criteria. Until the league formally approves Harbinger or another vehicle, and until price and timing are negotiated, the prospect remains exploratory.
