Miriam Adelson, the wife of late gaming mogul Sheldon Adelson, is offloading some 10 percent of her stock in Las Vegas Sands in order to purchase a sports franchise.
The company notes that it is intending to buy back some $250 million of those shares, subject to the closing of the offering.
No specific league or team were mentioned in the company’s filing with the Securities and Exchange Commission (SEC), but Bloomberg speculates it could be an NBA team.
Forbes currently estimate’s Miriam and her family’s net worth at $32.3 billion, with Miriam Adelson ranked as the fifth-richest woman in the world.
Sheldon Adelson left his 56 percent stake in LVS to his wife upon his death in 2021.
Las Vegas has recently seen numerous teams and franchises relocate to the city, including those in the NFL, NHL and WNBA, with plans for an MLB team relocation and discussions with the NBA.
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