Mark Cuban to start Indy 500

Dallas Mavericks owner Mark Cuban will be the one waving the green flag when the 33-car field roars down the frontstretch to start the 98th Indianapolis 500 on Sunday.

Cuban, who also stars in ABC's "Shark Tank," is the honorary starter of the event, Indianapolis Motor Speedway announced Monday. The race starts at noon ET on ABC.

"Whether it's winning an NBA championship or the honor of waving the green flag to start the Indianapolis 500, there are certain sporting events that are monumental for any true sports fan," Cuban said in a release. "I am excited to come back to Indiana, not just to attend, but actually participate in this historic race."

Cuban, who bought the Mavericks in 2000 and has an NBA championship under his belt from 2011, graduated from Indiana University and started Audionet (then Broadcast.com) with Todd Wagner in 1995 in part to listen to Hoosiers basketball games. The company, which streamed games over the Internet, was sold to Yahoo! for $5.6 billion four years later.

Cuban purchased the Mavericks not long after that.

This is the first time Cuban will wave the green flag for the Indianapolis 500.