Mavericks Chief Executive Officer Rick Welts will retire at the end of the year with president Ethan Casson succeeding him as CEO and alternate governor, the team announced in a press release.

According to Brad Townsend of the Dallas Morning News, Welts — a member of the Naismith Memorial Basketball Hall of Fame — came out of retirement in 2024 to help run the business side of the team’s operations.

“I’m so excited to be talking about this,” Welts told Townsend. “We’re making a pivot. It’s transition time. And it’s about as well-planned and orchestrated, I think, as has ever been done by an NBA organization.”

Welts. 73, was president and chief executive officer of the Suns from July 2002 until September 2011. He was the president of the Warriors from 2011 until 2021 and stayed with that organization as an advisor until 2024. From 1996 to 1999, he was the NBA’s executive vice president and chief marketing officer.

During his tenure with the Mavs, he has helped guide a period of significant organizational transformation, including strengthening the Mavericks’ executive leadership team, advancing the organization’s long-term arena and development strategy, and positioning the franchise for its next chapter.

“Rick joined the Mavericks at an important moment for our organization, and his leadership, judgment and experience have been invaluable,” governor Patrick Dumont said. “He has helped strengthen our leadership team, advance our long-term vision and position the organization for continued success. Just as importantly, Rick and Ethan have built a strong partnership that has created a natural and seamless path forward.”

Casson joined the organization in 2025 with the expectation he would eventually succeed Welts. He brings more than two decades of leadership experience across professional sports and entertainment. He spent nine seasons as CEO and alternate governor of the Timberwolves and WNBA Lynx, overseeing the organization’s business operations and driving record growth across all key revenue and business performance metrics, according to the release.

Prior to his time in Minnesota, Casson served as Chief Operating Officer of the San Francisco 49ers, where he played a key role in the development of Levi’s Stadium.