Mark Cuban hates golf—here's why he still offered this golf company $1 million on ‘Shark Tank'

Mark Cuban says he hates golf. On Friday's episode of ABC's "Shark Tank," he offered $1 million to a company selling portable golf courses anyway.

The San Francisco-based company BucketGolf, run by brother-and-sister duo Tyler and Jenny Simmons, sells a game that resembles golf, with foldable buckets as holes that can be placed wherever the players choose.

The company was on track to bring in more than $12 million in 2024 sales at the time of the episode's taping, said Tyler Simmons, the company's CEO and founder — up from $5.9 million in 2023 and $2.5 million in 2022. Roughly 15% to 20% of BucketGolf's revenue this year will be profit, he said.

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The siblings asked the show's investor judges for $1 million in exchange for a 10% equity stake in BucketGolf, saying they needed the cash to expand their inventory. The company's prices range from $114.99 for a basic six-hole set to $254.99 for a light-up nine-hole set that comes with multiple clubs, according to the company's website.

BucketGolf could also benefit from a Shark's mentorship on matters of logistics, Tyler Simmons said: "We have yet to make it through a busy season without running out of some of our best products."

Cuban 'sits and waits until the last moment'

Kevin O'Leary offered the siblings $1 million for 25% of their company. Daymond John matched the offer, saying he believed BucketGolf could eventually bring in $150 million per year. Lori Greiner said she'd give the siblings $1 million for 22.5% in equity, including preferred stock.

"I don't say I hate golf — I haven't tried it enough. [But] I hate the concept of it," John told the BucketGolf duo. "But this, I can actually see that I would like it, that I can say to my friends and family, 'Come on over. We'll play that.'"

Cuban, who often sits in silence while his colleagues engage in bidding wars, spoke up last — offering the siblings $1 million for 15% of BucketGolf, noticeably less equity than his peers wanted. "He always undercuts us. He sits and waits until the last moment," Greiner quipped.

The Simmonses asked Cuban for 12.5% equity instead, but he rebuffed the suggestion. "No, come on," said Cuban. "I'm going to bring enough value that it's going to be worthwhile. Just the fact that I hate golf and I'm going to do videos of doing this."

"We can do demos and a PGA event," he added. "There's a lot of ways that we can build visibility."

The siblings doubled down on their counteroffer, saying they could reach a level of success comparable to Spikeball, a sports game company that appeared on "Shark Tank" in 2015. Cuban declined to invest in the company at the time, and called it "the one that got away" during an episode of Peacock's "Hart to Heart" last year.

"I agree. That's why I made the offer," Cuban told the Simmonses. He seemed ready to stand firm until Greiner jumped in and agreed to the siblings' desired terms. Cuban chose to match it, and the siblings ultimately accepted Cuban's offer.

It's unclear whether the deal was confirmed post-taping. BucketGolf didn't respond to CNBC Make It's request for comment.

"We chose Mark's offer over Lori's because we felt he had a little bit more of a sports background," Tyler Simmons said on the show. "He is the perfect partner for us to take this to a whole new level."

Disclosure: CNBC owns the exclusive off-network cable rights to "Shark Tank."

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