Miriam Adelson. Image via: Sam Hodde/Getty Images
Dumont says the goal is the best arena in the NBA and a 40-year home for the team. He has done this before. He oversaw construction of the Venetian Arena in Macao, where the Mavericks played two preseason games in October.
The Dumonts now own 69 percent of the team. Mark Cuban holds 27 percent and Mary Stanton has 4 percent. Adelson bought control from Cuban in 2023 at a $3.5 billion valuation, with Dumont taking over as governor. He also has the right to buy 20 percent more from Cuban, and he says he plans to. The Mavericks are 4-3 this season under new coach Dusty May. Their 69 percent share came from Miriam Adelson, Sivan’s mother. Adelson and the Dumonts bought the team from Cuban in December 2023. Doing so would lift the family to 89 percent of a franchise Forbes values at $5.8 billion. Her family’s net worth is $31.1 billion as of Nov, according to Forbes. 4, which ranks 72nd in the world.
A league source confirmed the October purchase to The Athletic, and later the NBA’s board of governors approved it.
The sale happened in October, according to a report from ESPN. Dumont says he plans to use the option. “We will look to do that,” he told The Athletic. “It’s really about long-term investment in the city of Dallas,” he told ESPN. He pointed to the planned arena and said the aim is a better fan experience and a roster built to win titles. In a team statement, the Dumonts said they are committed to building a champion and growing the club’s community work in Dallas. He said he respects that and wants to make Mavs fans proud.
Miriam Adelson has sold her majority stake in the Dallas Mavericks to her daughter, Sivan, and son-in-law, Patrick Dumont. Patrick Dumont and his wife, Sivan, are now the controlling owners of the Mavericks. She held control for close to three years but had little say in daily operations. Dumont, who is also the CEO of Las Vegas Sands, made the decisions as governor. Dumont framed the latest deal as a bet on the city. Dumont also spoke warmly about Cuban, calling him a longtime family friend and a passionate fan who is frustrated. The family owns more than half of Las Vegas Sands, a New York Stock Exchange company. Her son-in-law now leads it as CEO.