Nice.
In 2023, Mark Cuban sold what was then his majority stake in the Dallas Mavericks to Miriam Adelson and her son-in-law, Patrick Dumont. At the time, the sale was purported to be to the tune of $3.5 billion. The transaction gave Adelson and Dumont majority ownership of the franchise, with Dumont serving in the role of Governor while Cuban maintained a minority stake in the team.
It is now being reported that another sale took place last month, though this one does not involve any new parties entering
the fold. Adelson has instead sold her stake in the Mavericks to Dumont and his wife (and Adelson’s daughter) Sivan Ochshorn. As a result of the deal, Dumont now holds a 69% ownership stake.
Along with Dumont are minority owners Cuban (27%) and Mary Stanton (4%). As part of the terms of the original sale in 2023, Dumont retains the right to purchase as much as 20% of Cuban’s remaining portion as well. “Our plan is to look at that and to do that over time,” Dumont suggests. Should he chose to do so, he would then hold a whopping 89% of the franchise which Forbes values at $5.8 billion.
Since taking over in 2023, Dumont has overhauled much of the front office. He hired Rick Welts as CEO, Ethan Casson as President (and successor CEO come the turn of the calendar to 2027), Masai Ujiri, Mike Schmitz, new head coach Dusty May and a number of other senior-manager level employees. Dumont is also hard at work on a new basketball-only area for the Mavs, with plans to make the former Valley View Mall an all-out entertainment destination.
“The most important thing every day is just trying to work harder to get better.” Dumont clearly has big plans on where he wants to take the Mavericks behind young phenom Cooper Flagg and this purchase demonstrates his long-term commitment to the team
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