Dumont family becomes controlling owners of the Dallas Mavericks

DALLAS - The Dumont family has purchased more shares of the Dallas Mavericks, becoming the new controlling owners of the franchise.

Dallas Mavericks Ownership

What we know:

ESPN and The Athletic are reporting that Patrick and Sivan Dumont have purchased Miriam Adelson's shares of the Dallas Mavericks, giving them a 69% share of the franchise's ownership group.

The Dumonts purchased Adelson's shares last month, according to the report. Adelson, a billionaire through the Las Vegas Sands Corporation, is the mother of Sivan and the mother-in-law of Patrick, who is CEO of the Las Vegas Sands Corporation.

The Dumonts and Adelsons acquired a majority stake in the Mavs in 2023, when former owner Mark Cuban sold his share of the team he'd owned since 2000 for $3.5 billion.

Cuban still retains a 27% share of the Mavs after the sale. He has expressed frustration and potential legal action over allegedly being frozen out of the team's basketball operations following the sale.

According to terms of the original sale, Dumont can purchase another 20% of Cuban's ownership stake at the original $3.5 billion team valuation.

Dumont Family Statement

What they're saying:

The Dumont family released the following statement to FOX 4 following the reports:

We are deeply committed to building a championship team, supporting our fans, and growing the organization’s impact in the local community through our investments in the city of Dallas.

We are very happy with our family ownership and could not be more excited about the future of the Dallas Mavericks.

Dumont Ownership Timeline

Timeline:

Ever since the Dumonts became involved in the Mavs' ownership group in November 2023, the team has been in a constant state of flux they hope stops this season.

In June 2024, seven months after the sale of the team was initially, the Mavericks advanced to the NBA Finals, falling to the Boston Celtics in five games.

Eight months later, in February 2025, Dumont approved a controversial trade of superstar guard Luka Dončić to the Los Angeles Lakers. The team's record and fan morale plummeted following the deal, leading to many calls to fire general manager Nico Harrison.

Dallas did draft star Cooper Flagg with the No. 1 pick in the 2025 NBA Draft after winning the NBA Draft Lottery, but Harrison was still fired in November 2025. The Mavs ended last season with a 26-56 record.

Last offseason, the Mavs hired Masai Ujiri as its new President of Basketball Operations, poached Dusty May away from Michigan to be its new head coach, and acquired several former first round picks to augment its roster around Flagg and a now-healthy Kyrie Irving.

The Mavericks are also in the process of leaving the American Airlines Center. In June, the team announced plans to build a new arena and entertainment district in Far North Dallas at the site of the former Valley View Mall.

That new arena is expected to be built by 2031. Dumont hired former Golden State Warriors CEO Rick Welts to help lead the search for the new arena's location. Welts will retire from the team at the end of the year.