Patrick Dumont Takes Control Stake in Dallas Mavericks

Patrick Dumont increased his stake in the Dallas Mavericks to 69 percent. His mother-in-law, Miriam Anderson, sold her remaining shares to Dumont and his wife Sivan, bringing the family into full control of the team. Dumont is chairman and CEO of Las Vegas Sands. The league did not request a new vote from team owners for this final sale.

Dumont has been the team's governor for about three years, making the final decisions. Now his capital share is growing too. The new owners face tasks including delivering the arena planned in Dallas, repairing relations with stakeholders, and raising the team's performance. In a statement to ESPN, Dumont described the arena as a major project that could be the team's home for 40 years. The arena is expected to open around 2031. The project is part of a 104-acre area in North Dallas. Dumont rejected the idea of moving the team to Las Vegas.

Relations with Cuban are tense. Cuban holds a 27 percent stake in the team. The Mavericks recorded 65 wins and 99 losses over the last two seasons. Trading Luka Dončić to the Los Angeles Lakers is seen as one of the most controversial moves in league history. In July, Cuban filed a lawsuit seeking internal documents about the North Dallas project. He said he had asked for information on financing, ownership structure, and the entity that will run the project, and that the new owners had not shared information he believes he is entitled to under the contract. Reportedly, Cuban believed he would keep influence over basketball decisions after the sale. It is not yet clear whether Dumont can reach an agreement with Cuban.