Dumonts Buy Adelson Stake To Control Mavericks Majority

Jerome Miron reports that Jerome Miron-Imagn Images Patrick and Sivan Dumont have acquired Miriam Adelson's shares, giving them majority control of the Dallas Mavericks. The Dumonts now own 69% of the franchise, surpassing previous owners. This shift in power was reported by Tim MacMahon and confirmed by multiple sources on Tuesday.

Mark Cuban retains a 27% stake after selling his controlling interest in 2023. The Dumonts have the option to purchase an additional 20% from Cuban before 2027, bringing their total ownership to 89%. Patrick Dumont, CEO of Las Vegas Sands Co., serves as the team's governor since the acquisition. Patrick Dumont emphasized the importance of building a permanent home for the team in Dallas, stating that the deal is about long-term investment in the city.

They plan to construct a world-class arena on 104 acres of land at the former Valley View Mall property in north Dallas, with rezoning efforts underway. Patrick Dumont has already made significant changes to the basketball operations, hiring Masai Ujiri as president in May to oversee front office operations. Ujiri replaced former coach Jason Kidd with Dusty May, who led Michigan to a national title.

The team also made a historic move in the draft by securing the No. 1 overall pick, Cooper Flagg. Other selections included Morez Johnson Jr. with the ninth overall pick, who has shown promising potential. Despite Cuban's regret about selling the team, Dumont maintains a respectful relationship with the former owner, expressing his respect and commitment to making the fans proud and winning a championship.