A major ownership shift is taking place in the NBA as the Adelson and Dumont families are set to acquire majority ownership of the Dallas Mavericks. The NBA Board of Governors is currently conducting a vote via email, with results expected in the coming days.
Miriam Adelson, the majority shareholder of Las Vegas Sands Corp., will be acquiring an estimated 70 percent stake in the NBA team from current owner Mark Cuban. Adelson confirmed in November that she was selling $2 billion in Sands stock to finance the acquisition, and it is the Adelson family, not Sands, that will be investing in the basketball team.
If approved, Patrick Dumont, the son-in-law of Miriam Adelson and the President and COO of Sands, will join the Board of Governors as the Mavericks’ representative. Cuban will retain a minority ownership stake of approximately 27 percent and will continue to oversee basketball operations.
The sale of the team is in its final stages, with a subcommittee of the NBA Board of Governors conducting interviews and gathering background information on Adelson and Dumont. The subcommittee has recommended approval of the transaction, and at least 75 percent of the 30 NBA team owners’ votes are needed to approve the transfer.
While team ownership votes typically occur during scheduled meetings, this vote is being conducted by email due to the holiday season. Once the vote is completed, the board or the league will confirm the outcome.
The Adelson family has expressed that they have no intentions of moving the team from Dallas. Interestingly, Las Vegas Sands recently acquired land in Irving, Texas, sparking speculation that it could potentially become the site for an integrated resort with a casino and an arena for the Mavericks. Sands has been lobbying Texas lawmakers for casino gambling approval, and the Texas Legislature is set to meet again in 2025.
For now, the Mavericks will continue to play in American Airlines Center, where they are committed to playing through 2030. The arena recently underwent a significant upgrade, further solidifying the team’s long-term presence in Dallas.
As the Adelson and Dumont families prepare to take majority ownership of the Dallas Mavericks, the NBA is anticipating the outcome of the vote and the new direction that the team will take under its new ownership structure.