Mark Cuban could buy back the Dallas Mavericks less than three years after selling the majority of his shares to Las Vegas Sands, the company that owns the most important and richest casino chain in the world.
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NBA, Cuban wants to buy back the Dallas Mavericks?
Incredible, but true: Mark Cuban is reportedly thinking of buying back the Dallas Mavericks. According to NBA journalist Marc Stein, the former majority owner wants to take back the Texas franchise with the support of a group of investors.
Cuban currently owns 27% of the Dallas Mavericks and has not been the majority owner since 2023, when he sold the franchise for a valuation of 3.5 billion dollars.
Since then, control of the Dallas Mavericks has been in the hands of Miriam Adelson, the largest shareholder of Las Vegas Sands, and her son-in-law Patrick Dumont, chief operating officer and president of the most important casino company in the world, with assets primarily in Macau and Asia.
Under the agreement between the parties at the time of the ownership transfer, the Dumont–Adelson family has the right to acquire an additional 20% of Cuban‘s stake by the end of 2026.
Who is Patrick Dumont and how Las Vegas Sands bought the Dallas Mavericks
At the end of 2023, Miriam Adelson bought 73% of the Dallas Mavericks from Mark Cuban for a valuation of 3.5 billion dollars. She and her family trust sold 2 billion dollars worth of Las Vegas Sands stock to finance the purchase.
Las Vegas Sands has been the largest casino operator by market capitalization since 2010. As part of this handover, Patrick Dumont became the owner of the NBA franchise.
Dumont has been president and chief operating officer of Las Vegas Sands since 2021 and is expected to be appointed chief executive officer (CEO) when Robert Goldstein retires.
The decline of the Dallas Mavericks since the change of ownership
Since the change of ownership, the Dallas Mavericks have been on a downward trajectory. In 2024, just months after Cuban‘s sale, the Texas franchise reached the NBA Finals, followed by a decline.
The Dumont–Adelson family, in agreement with the former GM of the Dallas Mavericks, Nico Harrison, traded Luka Doncic to the Los Angeles Lakers in exchange for Anthony Davis.
This trade stunned the fanbase and even Mark Cuban himself, who stated he was unaware of the operation. Despite owning 27% of the shares and expressing his desire to remain involved in sporting decisions, the former majority owner played a marginal role in the affair.
The sale of Doncic sparked fan outrage and forced the new ownership of the Dallas Mavericks to fire Nico Harrison last November. Even this did not seem to be enough, as during the jersey retirement ceremony for Mark Aguirre on January 29th, Dumont was booed by the entire arena.
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Why the Dumont-Adelson family wants to hold onto the Dallas Mavericks
Adding to this general discontent, the recent trade of Anthony Davis has further fueled the fire and intensified fan anger towards the new ownership.
However, amidst this downward trend, the Dumont–Adelson family has identified Cooper Flagg as the symbol to usher in a new sporting era. According to Stein, the ownership (and particularly Dumont) is enthusiastic about the rookie’s performance, as the first pick in the latest NBA Draft.
Therefore, even though Mark Cuban is reportedly considering buying back the Dallas Mavericks, the current ownership’s confidence in this new sporting cycle would make Patrick Dumont and, in general, Las Vegas Sands, an unlikely seller.
One of Las Vegas Sands‘ objectives is to obtain a license to open the first casino in the State of Texas, and the NBA franchise could be one of the means to achieve this ambitious target.
How Mark Cuban can buy back the Dallas Mavericks
There are fundamentally two reasons that could lead to Dumont‘s step back: fan discontent and his imminent promotion to CEO of Las Vegas Sands, which will make his schedule even more packed.
To regain at least a majority stake in the Dallas Mavericks, Cuban would therefore need to convince the Dumont–Adelson family to sell, spend more than 2 billion dollars, and close what would be a lightning-fast negotiation.
If an agreement were to materialize, it would be one of the fastest such transactions in the history of professional US sports.
On the other hand, the current ownership can complicate negotiations at any time by activating the contractual clause and acquiring another 20% of Cuban‘s shares, leaving him with just 7%.
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