The Dumont family now holds a 69% controlling stake in the Dallas Mavericks after buying Miriam Adelson’s remaining shares. A team spokesman said the sale closed last month.
The transaction took place in October, according to a spokesman quoted by The Dallas Morning News, which reported that ESPN first reported the deal. Mark Cuban retains a 27% share, and Mary Stanton, the widow of an original shareholder, owns 4%, the newspaper reported.
The family said its purchase reflects its commitment to the team and Dallas, including its ambition to build a championship team and invest in the city’s community.
How the ownership changed
The latest purchase follows the December 2023 sale in which the Adelson and Dumont families acquired a 69% stake from Cuban and several minority investors. Sports Business Journal reported that transaction was based on a $3.8 billion valuation. The NBA Board of Governors approved the sale; the cited announcement confirms that approval but does not detail the league’s approval criteria or rules for minority ownership.
A further purchase from Cuban remains a possibility, but no additional sale has been confirmed. The Dallas Morning News has reported that Dumont could buy another 20% from Cuban; reporting has cited different valuations for that potential transaction, including $3.5 billion in the newspaper’s account and $3.8 billion for the 2023 deal, as reported by Sports Business Journal.
The venue proposal and its broader context
The team is also working toward a basketball-only venue and entertainment district at the former Valley View Mall site, with a target opening in 2031, according to The Dallas Morning News. The reporting cited here does not establish the project’s financing, final approvals or construction timetable.
What the site’s history tells us—and what it doesn’t
The former Valley View Center site is within the Montfort-IH 635 sub-district, where the City of Dallas Office of Economic Development describes a 30-year vision for denser redevelopment and a signature park. Those are planning goals, not evidence that the work is complete or part of the Mavericks’ venue proposal. The city’s FY 2022-2023 report recorded $3,453,806 in Mall Area Redevelopment TIF District revenue collections, or 0.80% of the goal, for that reporting period; it does not establish that the proposed arena has secured financing. See the City of Dallas redevelopment district overview and its FY 2022-2023 annual report.
A separate example offers context, not a financing model for Dallas: UT News reported that the University of Texas at Austin’s Moody Center, which opened in 2022, was a $375 million multipurpose project developed by Oak View Group, Live Nation Entertainment/C3 Presents, UT Austin and Matthew McConaughey, and named in honor of a $130 million Moody Foundation grant. A City of Dallas resolution also describes a 1997 Arena Master Agreement for construction and financing of a public-use arena project, but that earlier arrangement does not establish how the proposed Mavericks venue will be financed. See UT News and the City of Dallas resolution.
For now, the ownership change is settled: the Dumont family controls the 69% majority stake, while Cuban and Stanton hold the remaining shares. The venue remains a proposal whose financing and delivery details have not been established.
