Sivan and Patrick Dumont purchased Miriam Adelson's shares of the Dallas Mavericks last month, making the Dumont family the controlling owners of the franchise with a 69% share. Patrick Dumont has served as the Mavericks' governor since the families took control. Mark Cuban, who sold the majority share to Adelson in December 2023 along with her daughter and son-in-law, maintains a 27% share of the franchise.
Dumont, the Las Vegas Sands Co. CEO, told ESPN the investment is really about long-term investment in the city of Dallas. He said the family is committed to building what they hope is the best arena in the NBA, creating the new 40-year home for the Dallas Mavericks. Under the 2023 sale terms, Dumont can purchase another 20% share from Cuban at the original $3.5 billion valuation.
The ownership shift follows a turbulent tenure that included trading Luka Doncic to the Los Angeles Lakers and firing general manager Nico Harrison. Dumont hired championship-proven former Toronto Raptors executive Masai Ujiri as president in May, who replaced coach Jason Kidd with Dusty May and brought in general manager Mike Schmitz. The franchise is now pivoting to build around Cooper Flagg, the reigning Rookie of the Year and No. 1 overall pick.
Source: ESPN NBA · Summarized by HeadlinesBriefing