Jerry Jones Says He Would Consider Mark Cuban as Cowboys Co-Owner Through Harbinger Fund

Dallas Cowboys owner Jerry Jones has signaled he would entertain the possibility of Dallas Mavericks legend Mark Cuban joining him as a co-owner through Cuban’s private equity vehicle, Harbinger. Jones made the comments to The Dallas Morning News, citing his deep admiration for Cuban’s track record and character as primary reasons for his willingness to explore such an arrangement.

Cuban responded positively to the prospect, telling the same outlet that his Harbinger fund would likely be receptive to the opportunity. Jones emphasized that beyond financial considerations, he values Cuban’s passion for sports and his demonstrated commitment to excellence, qualities he believes would strengthen any partnership at the franchise level.

The conversation follows remarks from Jones’ son Stephen, the team’s chief operating officer, who indicated earlier this week that the family would not categorically rule out selling a stake in the organization. Stephen Jones stressed, however, that any prospective partner would need to meet rigorous standards regarding alignment with the franchise’s values and vision.

The NFL permitted private equity firms to acquire between 3% and 10% of team ownership stakes two years ago. With an estimated valuation of $13 billion, the Cowboys represent the most valuable franchise across all major North American professional sports, according to Forbes.

Cuban maintains a 27% ownership stake in the Mavericks. In December 2023, he divested nearly 75% of his basketball team for a $3.5 billion valuation. His Harbinger fund recently acquired a minority stake in Major League Baseball’s Athletics, which will relocate to Las Vegas in 2028.