Mark Cuban invests in Ontario pro basketball team

American entrepreneur Mark Cuban has made a name for himself as a former NBA owner and panellist on the hit TV series Shark Tank, and now he's bringing his fame and fortune to Brampton.

The 67-year-old celebrity businessman and investor has reportedly joined the ownership group of the Brampton Honey Badgers of the Canadian Elite Basketball League, per insauga.com.

Cuban spent 13 years on the reality television series Shark Tank and 23 years as the majority owner of the Dallas Mavericks. (Gage Skidmore/Wikimedia Commons)

The investment was revealed by former Mavericks executive Al Whitley during a Brampton city council meeting on Wednesday.

Whitley, who spent 22 years within the Mavericks organization and worked closely with Cuban, including during the team's 2011 NBA championship run, now leads the Honey Badgers. It appears that Cuban investment in Brampton is backed by their long professional relationship.

The team is also owned by Leonard Asper, who has an existing business connection with Cuban through Anthem Sports & Entertainment, the Canadian company behind GameTV network and TNA Wrestling.

Details around Cuban's role with the team have not been disclosed, but it is expected to be formally announced by the team on May 7.

When Cuban sold his 73 per cent stake in the Mavs in 2023 for $3.5 billion, few expected him to return to team ownership anytime soon.

The move back to basketball could be a bet by Cuban on the growth of this sport in Canada, given that the NBA's best player and reigning MVP is Canadian (Shai Gilgeous-Alexander).

Fans in Brampton attending a Honey Badgers game (CEBL)

The CEBL also has a rule that requires each of its 10 teams to carry at least 70 per cent Canadian players.

The Honey Badgers are entering their eighth season in the CEBL and their fourth while being based in Brampton, after previously playing in Hamilton.

The CEBL season runs from May through August, with the Honey Badgers among the league’s original six franchises, along with the Niagara River Lions, Edmonton Stingers, Calgary Surge, Saskatoon Mamba, and the Vancouver Bandits.