The Dallas Mavericks have undergone another ownership change, with Sivan and Patrick Dumont purchasing Miriam Adelson’s shares to increase their family’s controlling stake in the franchise to 69 percent.
Patrick Dumont confirmed to ESPN on Tuesday that the transaction was completed last month, emphasizing the family’s commitment to investing in Dallas and developing a new arena.
“It’s really about long-term investment in the city of Dallas,” said Dumont. “The Dumont family is really committed to building what we hope is the best arena in the NBA, a really significant investment in the city that will help create the new 40-year home for the Dallas Mavericks, a great experience for our fans and inspire our team to win championships. That’s really what we’re focused on. We had the opportunity, and we’re really excited about it.”
Adelson initially acquired a majority stake in the Mavericks from Mark Cuban in December 2023 alongside her daughter and son-in-law.
While Adelson had limited involvement in the team’s operations, Patrick Dumont has served as the franchise’s governor since the acquisition.
Cuban still owns 27 percent of the Mavericks, although the original agreement allows Dumont to purchase another 20 percent at the $3.5 billion valuation established in 2023.
“Our plan is to look at that and to do that over time,” said Dumont. “I just have to tell you: I love Mark. He’s been a great family friend for a really long time. He’s just a super passionate Mavs fan and he’s frustrated. I respect it.”
Cuban has previously expressed regret over selling his controlling stake, particularly after losing influence over basketball and business operations.
The Mavericks are also planning to open a new arena in 2031. The organization has an option to purchase a 104-acre site at the former Valley View Mall in north Dallas, where rezoning efforts are underway.
The franchise is preparing for a leadership transition as well, with CEO Rick Welts scheduled to retire at the end of the year and team president Ethan Casson set to replace him.
