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As the Dallas Mavericks near their first NBA Finals appearance since 2011, you can bet that Mark Cuban will be closely involved. The billionaire was a central figure during their championship run 13 years ago, and he remains deeply engaged as Luka Doncic leads the team in pursuit of the same glory that Dirk Nowitzki achieved.
Although Cuban is still a major presence within the organization, he is no longer the majority owner following a surprising announcement in December.
Cuban originally became the Mavericks’ majority owner in 2000 when he purchased the struggling franchise for $285 million. Known as one of the NBA’s most hands-on owners, he oversaw the team’s trip to the NBA Finals in 2006 and their first championship in 2011. The question now is whether another title is on the horizon.
New Ownership Structure
Who owns the Mavericks now?
In December, Cuban sold the majority of the Mavericks to billionaire Miriam Adelson, with her son-in-law Patrick Dumont serving as the team’s governor and control person. The deal, valued at $3.5 billion, included Cuban retaining a 27 percent stake in the team and full oversight of basketball operations. This means Cuban, along with president of basketball operations Nico Harrison, continues to be a key figure on the basketball side.
Who is Patrick Dumont?
Patrick Dumont, married to Miriam Adelson’s eldest daughter, is now the day-to-day business operations leader for the Mavericks. Before taking over the Mavericks, Dumont was an investment banker who joined Las Vegas Sands in 2010, rising to the position of president and COO. The company, rebranded as Sands Corp. in 2021, operates major resorts in Singapore and China. Dumont, who has kept a lower profile than Cuban, has become a regular presence at Mavericks games and shares a deep passion for basketball.
Why did Mark Cuban sell the Mavericks?
Cuban’s decision to sell his majority stake led to speculation about a possible presidential run, which he quickly denied. Instead, Cuban cited his desire for a partner who could help “build” the franchise. He expressed confidence in the Adelson family’s ability to grow the Mavericks’ revenue base, emphasizing that their strengths complement his own. Cuban remains optimistic about the team’s future, particularly regarding financial investments and media rights deals.
Future Investments and Arena Plans
Dumont has indicated plans to invest in the American Airlines Center but has also left open the possibility of constructing a new arena as part of a large-scale entertainment complex when the current lease expires in 2031. This aligns with Cuban’s vision of having a partner who can literally “build” new opportunities for the franchise.
Mark Cuban’s net worth
According to Forbes, Cuban’s net worth is estimated at $5.4 billion, placing him 582nd in the world. Despite selling his majority stake, Cuban did not rank among the very richest NBA owners. For context, Clippers owner Steve Ballmer is worth $101 billion. Cuban has expressed pride in contributing to society through substantial tax payments, highlighting his commitment to civic duties.
As the Mavericks strive for another championship, Cuban’s influence remains significant, ensuring that the team is well-positioned for both immediate success and long-term growth under the new ownership structure.