Why just buy a house or vacant land when you can buy an entire town instead? That’s what billionaire businessman Mark Cuban recently did when he purchased a tiny town with a population of only 23 citizens.
The star of Shark Tank is known for his shrewd investments over the years that have made him billions. He’s the owner of the NBA’s Dallas Mavericks, is a co-founder of 2929 Entertainment, and has invested in dozens of small startups. Yet this is new territory for the entrepreneur. In fact, Cuban supposedly bought the Texas town as a favor to a friend.
Mark Cuban now owns Mustang, Texas, which is in Navarro County only 55 miles south of Dallas. The town only covers 77 acres and has less than two dozen citizens, but has quite the story in recent history.
Previously, Mustang has been considered a “ghost town.” The town has only been around for five decades after being established in the 1970s. Its main two establishments are a volunteer fire department and a wastewater treatment facility. In addition, for many years it was the only place in Navarro County where you could buy alcohol. Listing agent Michael Turner spoke about Mustang in a 2017 Houston Chronicle interview.
“It was a boomtown in the alcohol business. There was a long line of cars from Corsicana and all-around Navarro County here,” Turner shared.
Mark Cuban’s New Town Has a Seedy Back Story
Mustang, Texas has never exactly been a destination location, and its checkered history hasn’t helped. Maybe Mark Cuban can spruce it up a bit, but only time will tell. These days, the town is home to a handful of horse ranches and trailer parks. However, not that long ago, one of the only businesses in town was a now-abandoned strip club with a dark past.
“There was a strip club there called Wispers that has since permanently closed. There was a killing there, the business had quite a tale,” Turner explained to the Houston Chronicle.
In October 2008, a patron of the club died after being assaulted and beaten to death. In fact, the melee involved the strip club’s DJ at the time, according to a Corsicana Daily Sun report. The Wispers DJ, 49-year-old Jeffrey Ballew, claimed he tried to break up a fight between patrons Tommy Sinclair and Fernando Ramirez. Local courts charged Sinclair with assault and manslaughter in Ramirez’s death. They also charged Ballew with assault in the matter.
There’s nothing funny about what happened at the cabaret. But since Mark Cuban bought the town, Google Maps shows the name of the abandoned strip club as “Mark Cubaret.”
When Cuban recently spoke with the Dallas Morning News, he shared that even he isn’t quite sure what to do with Mustang.
“I don’t know what if anything I will do with [the town],” Mark Cuban said to the outlet.
Mustang sold for an undisclosed price, but in September 2017, the town was listed at $4 million. Agents later reduced the price to $2 million, but it is not clear what exactly Cuban paid for the town.