AP / Seth Wenig

Mark Cuban called on US officials to channel one of America's best-known dealmakers ahead of potential bailout talks with Boeing over the weekend.

"We'll use what Warren Buffett did with Bank of America when he gave them $5 billion and asked for warrants and he made $12 billion off the warrants," the "Shark Tank" star told CNBC on Wednesday.

"If I'm negotiating for the taxpayer," Cuban added, "I'm asking for everything plus the kitchen sink."

President Donald Trump said on Friday, "We can't let anything happen to Boeing."

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Ahead of expected talks between Boeing and the Trump administration, Mark Cuban called on the administration to emulate a legendary dealmaker if it decides to bail out the troubled airplane manufacturer.

"We'll use what Warren Buffett did with Bank of America when he gave them $5 billion and asked for warrants and he made $12 billion off the warrants," the billionaire "Shark Tank" star told CNBC on Wednesday. "That's the exact same type of deal that I would cut."

"If I'm negotiating for the taxpayer," Cuban added, "I'm asking for everything plus the kitchen sink."

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In August 2011, Buffett's Berkshire Hathaway conglomerate paid $5 billion for 50,000 shares of preferred stock in Bank of America. The shares had a liquidation value of $100,000 each and paid a 6% annual dividend. Berkshire also received warrants to buy 700 million shares in the bank at an exercise price of about $7.14 at any time in the next 10 years.

Berkshire exercised the warrants six years later, funding the stock purchases with the $5 billion worth of preferred stock it already owned. Bank of America's stock price had more than tripled by then, meaning the company netted roughly $12 billion in paper profits.

If the US government receives warrants as part of a bailout deal with Boeing, it could choose between having a stake in the company or selling the shares for a quick profit. Cuban, the owner of the Dallas Mavericks, underscored the value of the warrants in Buffett's deal on the "Worst Year Ever" podcast earlier this month.

"Look at the deal that Warren Buffett did when he bailed out Bank of America 10 years ago," he said. "Whoever's negotiating for the United States taxpayers should be asking for the same thing."

Cuban also offered to play the Buffett role in the talks, citing his own reputation for driving a hard bargain.

"I'd be the volunteer," he said on the podcast. "I'll put on my 'Shark Tank' hat, and you put me in the negotiation with Boeing or whoever, and we're getting a great deal."

He added, "We're going to own a big chunk."

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'We can't let anything happen to Boeing'

Trump is expected to meet with airline-industry executives over the weekend to discuss aid.

"We can't let anything happen to Boeing," Trump said at a White House press briefing on Friday. He described the manufacturer as "probably the greatest company in the world" before its 737 Max fiasco and the recent industry downturn due to the novel coronavirus outbreak.

While Boeing has not asked for aid, Trump said, "I think they probably will."

"When they see us, making sure that Boeing is strong again is very, very powerful and very important," he added. "And we'll do whatever is necessary to do."

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