LAS VEGAS, Nev. (FOX5) – Miriam Adelson intends to sell $2 billion in Las Vegas Sands stock, according to a filing with the U.S. Securities and Exchange Commission (SEC).
According to the filing, Adelson, the largest shareholder of Las Vegas Sands Corporation, intends to sell the stocks in an effort to fund the purchase of a majority interest in a professional sports franchise.
The filing did not specify in which league Adelson is looking to purchase a team.
“We have been advised by the Selling Stockholders that they currently intend to use the net proceeds from this offering, along with additional cash on hand, to fund the purchase of a majority interest in a professional sports franchise pursuant to a binding purchase agreement, subject to customary league approvals,” the filing states.
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