Mark Cuban, a fixture in the Dallas Mavericks’ ownership for over two decades, is set to transition the controlling interest in the team to the families of Dr. Miriam Adelson and Sivan and Patrick Dumont.
The NBA Board of Governors approved the sale, valuing Cuban’s share at a reported $2 billion, while he retains 27% ownership. Patrick Dumont, President of Las Vegas Sands Corp., will step into the role of Mavericks’ Governor, with the finalization of the transaction expected later this week.
In 2000, Cuban acquired a majority stake in the Mavericks for $285 million from H. Ross Perot Jr. The sale to the Dumont family signals a new era for the franchise.
Cuban expressed optimism about the partnership, emphasizing its positive impact on both the on-court and off-court aspects of the team.
Regarding his ongoing involvement, Cuban clarified that he would continue overseeing the basketball side of the operations.
“Having a partner like Patrick, Sivan, and Miriam and their ability to build and to redevelop the arena and whatever comes next beyond that, it just puts us in a much better position to compete,” he said, per Brad Townsend of The Dallas Morning News.
In response to questions about the details of the agreement in terms of basketball operations, Cuban emphasized that such specifics are not typically outlined in a sale agreement.
Instead, he characterized the arrangement as a partnership, stating, “It’s a partnership, right? They’re not basketball people; I’m not a real estate person. That’s why I did it.”
Cuban expressed his excitement about the partnership, noting that while he could have pursued a more lucrative offer from another buyer, the Dumont family brings unique strengths that complement his own.
The agreement is marked by trust and collaboration, with Cuban confident that the new ownership structure positions the Mavericks for success both on and off the court.
