Dumont family reaches 69% stake in Dallas Mavericks

Patrick Dumont and his wife Sivan Ochshorn took control of the Dallas Mavericks by buying Miriam Adelson's stake in the NBA team. The transaction, completed last month, raised the family's ownership to 69%. Ochshorn is Adelson's daughter, and Dumont is her son-in-law.

Former majority owner Mark Cuban transferred control to the Adelson and Dumont families in December 2023 and still holds a 27% stake. Dumont, chairman and CEO of Las Vegas Sands, represents the team on the NBA Board of Governors. Dumont described the investment as a long-term commitment to Dallas.

The family aims to build a new arena and a new 40-year home for the team. The Dumont family said it wants to support the team's pursuit of a championship by making a significant investment in the city. Dumont also said the family could increase its ownership stake further in the future.

Under the current agreement, Dumont has an option to buy an additional 20% stake from Cuban for $3.5 billion. Adelson and Dumont acquired their joint stake in the team at the end of 2023, and for that deal Adelson sold about $2 billion worth of Las Vegas Sands shares. Adelson's direct role in the team was limited. With the latest transfer, control has passed more clearly to Dumont and Ochshorn.

The team is also running a new arena project on the former Valley View Mall site in North Dallas, with a target opening year of 2031.