Mark Cuban, the billionaire owner of the Dallas Mavericks will pay for the team's parade on the streets of Dallas following their NBA Finals victory over the Miami Heat.
I'll pay for it because I don't think it's right for the city to have to pay for it. And let's just have some fun, Cuban said.
Like the Los Angeles Lakers last year, the City of Dallas is marred in a budget crunch that will make it difficult to pay for the parade. The primary cost for the parade is the added police and city workers needed to manage the over a million people expected to show.
The Lakers, through private donations and funding from the team, paid between $1.5 and $2 million for the parade in Los Angeles. The cost for a parade in Dallas is expected to be the same.
Cuban has a net worth of approximately $2.5 billion. Therefore, the cost of the parade should be less than 0.1% of his net worth.
In addition, the team will likely have added income from other sources such as ticket sales and TV deals because of the win, that should more than cover the cost of the parade.
It is the franchise's first ever NBA title, so the city will have a lot to celebrate.