Dumont family – Patrick Dumont and his wife Sivan – bought Miriam Adelsonshares in Art Mavericksmaking the Dumonts the majority owners of the franchise, according to reports ESPN’s Tim McMahon.
If Mark Cuban sold his majority stake in the Mavericks back in 2023, Adelson led the new ownership group, although Dumont was also a key investor and was named the team’s new governor. According to McMahon, Adelson has had “minimal involvement” in the NBA team since then and decided to sell her shares to her daughter (Sivan) and son-in-law (Dumont), who now control 69% of the Mavs.
“This is about a long-term investment in the city of Dallas,” Dumont told ESPN on Tuesday. “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 a new 40-year home for the Dallas Mavericks, a great experience for our fans and inspire our team to win a championship. That’s what we’re focused on. We had the opportunity and we’re very excited about it.”
It is unclear whether the sale of Adelson’s shares to the Dumonts has been officially completed or is still pending approval by the NBA’s board of governors. MacMahon’s report also does not indicate how the Mavs were valued in the deal. In his own latest NBA franchise ratingsSportico estimated the team is worth $6.35 billion.
Cuban still controls 27% of the Mavericks. However, the terms of his original agreement with the Adelson/Dumont family allow the Dumonts to buy another 20% of Cuban until the end of 2027 at an initial valuation of $3.5 billion, bringing the family’s total stake in the club to 89%. Dumont confirmed earlier this month that he intended to take advantage of the opportunity, and reiterated this to McMahon.
“Our plan is to look at it and do it over time,” Dumont said to buy another 20%. “I just have to tell you, I love Mark. He’s been a great family friend for a very long time. He’s just a very passionate Mavs fan and he’s disappointed. I respect that. I hope we make him proud. That’s my goal is to make all of our Mavs fans very proud of the team’s success and winning the championship.”
Dumont is spearheading plans to build a new arena for the Mavericks. Earlier this year, the team entered into an option agreement to purchase a 104-acre site in north Dallas on the site of the former Valley View Mall. According to MacMahon, that land is currently being rezoned to allow for the construction of a new arena that Dumont promises will be a “world-class” facility. The team’s lease at the American Airlines Center expires in 2031.
