New Ownership Structure
Sivan and Patrick Dumont purchased Miriam Adelson's shares of the Dallas Mavericks last month. This move gives the Dumont family a 69 percent share and makes them the controlling owners of the franchise. Adelson had minimal involvement with the team since buying the majority share from Mark Cuban in December 2023 with her daughter and son-in-law.
Patrick Dumont has served as the team governor since the families took control. Mark Cuban still holds a 27 percent share of the franchise. Dumont stated that the family wants to make a long-term investment in the city of Dallas and build a great new arena.
Front Office Changes
Patrick Dumont has overseen a major overhaul of the franchise during his tenure. He fired former general manager Nico Harrison last November and hired Masai Ujiri as president in May. Ujiri then replaced former coach Jason Kidd with Dusty May and hired Mike Schmitz as general manager.
Dumont also recruited Rick Welts out of retirement in 2025 as CEO to help guide business transformations. Welts plans to retire again at the end of the year and will be succeeded by team president Ethan Casson.
Arena Plans and Renovations
The team practice facility recently underwent an eight-figure renovation, featuring a new dining area called the Champions Performance Kitchen. Business offices are also going through costly upgrades. The franchise entered an option agreement this summer to buy land at the former Valley View Mall site in north Dallas for a new arena.
Dumont wants to create a world-class venue with luxury touches and Texas style elements. Rick Welts noted that Dumont is heavily involved in the design process to ensure fans get the best possible experience when the new building opens.
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