Dumonts Take Control of the Mavericks, and Cuban's Stake Is Next

Dumont Family Becomes Controlling Owner of the Dallas Mavericks

Sivan and Patrick Dumont bought Miriam Adelson's shares of the Mavericks last month, making the Dumonts the controlling owners with a 69% share, ESPN reported. Adelson had minimal involvement since she bought the majority from Mark Cuban in December 2023 with her daughter and son-in-law. Patrick Dumont, the Las Vegas Sands CEO, has served as the team's governor since then.

It's really about long-term investment in the city of Dallas.

Cuban still owns 27%. Under the 2023 sale terms, Dumont can purchase another 20% from him at the original $3.5 billion valuation, and Dumont said the plan is to do that over time. Cuban has said he regrets the sale and has been frozen out of basketball and business operations, according to ESPN.

Mavericks Ownership, Arena Plans and the Rebuild

Dumont approved the decision by former general manager Nico Harrison to trade Luka Doncic to the Lakers, drawing intense backlash from fans. He fired Harrison last November, hired Masai Ujiri as president in May and let Ujiri overhaul the front office. Ujiri replaced coach Jason Kidd with Dusty May and hired Mike Schmitz as general manager. The team is now built around Cooper Flagg, the reigning Rookie of the Year.

On the business side, Dumont has made hires in eight of 11 senior leadership roles in two years. CEO Rick Welts plans to retire at year's end and will be succeeded by team president Ethan Casson. The team has an option to buy a 104-acre tract at the former Valley View Mall site, rezoning is underway, and Welts said the arena is scheduled to open in five years.

Our Read: Control Is Not the Same as Credit

This is our interpretation of the reporting and not a claim from any source.

• The vote count matters more than the headline. A 69% stake gives Dumont room to act, but the Cuban question stays alive as long as 27% sits with a loud, unhappy former owner.
• The arena is the real asset. Dumont's day job is hospitality and resorts, and Welts says he is deeply involved in the design. A franchise tied to a new building is priced on that building.
• Accountability has shifted to Ujiri. Dumont's own words were that this is Ujiri's team, which spreads the risk if Flagg's development or the Doncic hangover keeps the fans angry.
• The evidence on results is thin. Everything cited is structure, hires and real estate. None of it shows the team winning more.

What to Watch in the Mavericks Ownership Story

• Whether Dumont exercises the option on Cuban's additional 20%.
• Rezoning progress on the Valley View Mall site.
• How Casson handles the CEO handoff when Welts retires.
• Whether the on-court results under May and Flagg change how fans see the owners.

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