TEXAS — Dallas Mavericks owner and entrepreneur Mark Cuban will be leaving "Shark Tank" after over 10 years on the hit ABC show that gives business owners the chance to pitch their product ideas to a panel of celebrity investors.

Cuban, 65, announced the news on the Showtime podcast "All the Smoke" — hosted by former NBA players Matt Barnes and Stephen Jackson — on their 207th episode. "Shark Tank" is currently airing its 15th season. In the podcast, Cuban said he would be leaving next year, after the show's 16th season.

"It's time," Cuban said. “I feel like in doing Shark Tank all these years, we’ve trained multiple generations of entrepreneurs that if somebody can come from Iowa or Sacramento or wherever, and show up on the carpet of 'Shark Tank' and show their business and get a deal, it’s going to inspire generations of kids. That’s what happens, right? Now we’ve got people coming on saying, 'I watched you when I was 10 years old.' I’m like, (expletive). But we’re helping them, right? I’ve invested in, I don’t know how many hundreds of companies."

Cuban is one of six sharks currently on the show, starring alongside Barbara Cocoran, Lori Greiner, Robert Herjavec, Daymond John and Kevin O'Leary. He first joined the cast as a guest shark in 2011.

"Shark Tank" premiered in 2009 and has launched the success of products like the Scrub Daddy, Kodiak Cakes, the Ring camera and more.

Apart from being anentrepreneurr and investor in a plethora of companies, Cuban is also the owner of the Dallas Mavericks basketball team and the founder of Cost Plus Drugs, a pharmaceutical company aimed at giving people access to affordable medicine.

ABC has not announced or confirmed Cuban's departure.