Patrick Dumont Secures Controlling Stake in Dallas Mavericks

Miriam Anderson has sold her remaining stake in the Dallas Mavericks to Patrick Dumont and his wife, Sivan, boosting their ownership to 69% and giving the family full control of the NBA franchise. The new owners will face several immediate challenges. These include delivering the promised North Dallas arena, stabilizing relations with other stakeholders, and improving the team’s performance. The Mavericks Face Some Immediate Challenges Dumont, president and CEO of Las Vegas Sands, is the Mavericks’ new controlling owner. Alderson, his mother-in-law, previously held the position after collaborating with the Dumont family to purchase the team from Mark Cuban in December 2023. Cuban still owns a 27% stake in the franchise. The NBA did not require a fresh vote from team owners to approve the latest deal. While this development gives the couple a bigger direct financial stake in the franchise, Dumont has been the final decision-maker on major matters as the team’s governor for almost three years. The ownership change also comes amid ongoing speculation about the Mavericks’ long-term home. However, Dumont rejected the notion of moving the team to Vegas. The Dumont family is committed to building what we hope is the best arena in the NBA, a really significant investment in the city that will… inspire our team to win championships. Patrick Dumont Dumont promised to invest heavily in Dallas, including building a new arena that would serve as the team’s home for decades. Speaking to ESPN, he remarked that the project was a major undertaking that could serve as the franchise’s home for the next 40 years. The proposed site is part of a larger planned development on a 104-acre site in North Dallas. The new arena is expected to open around 2031. Dumont and Cuban Have a Turbulent Relationship The Dumonts will also have to improve relations with Cuban, who has grown frustrated with the franchise. The team has posted an unimpressive 65-99 record over the past two seasons, while the trade of Luka Dončić to the Los Angeles Lakers has become one of the most controversial moves in recent NBA history. The proposed arena development also strained relations between Cuban and the new owners. In July, he filed a lawsuit seeking internal documents about the North Dallas project, including details about its financing, ownership structure, and the entity responsible for overseeing the development. He said the new owners had not disclosed the information he thought he was contractually entitled to. These disputes revived the tensions between Dumont and Cuban that started when the latter sold his controlling share. Cuban allegedly believed he would retain influence over basketball decisions while Dumont handled the business side. With the ownership change placing Dumont firmly in control of the franchise, it remains to be seen whether he can reconcile with Cuban.