The Dumont family – Patrick Dumont and his wife Sivan – have bought Miriam Adelson’s shares in the Mavericks, making the Dumonts the majority owners of the franchise, reports ESPN’s Tim MacMahon.

When Mark Cuban sold his controlling stake in the Mavericks back in 2023, Adelson led the new ownership group, though Dumont was also a key investor and was named the team’s new governor. According to MacMahon, Adelson has had “minimal involvement” in the NBA team in the years since then and opted to sell her shares to her daughter (Sivan) and son-in-law (Dumont), who now control 69% of the Mavs.

“It’s really about long-term investment in the city of Dallas,” Dumont told ESPN in a statement on Tuesday. “The Dumont family is really committed to building what we hope is the best arena in the NBA, a really significant investment in the city that will help create the new 40-year home for the Dallas Mavericks, a great experience for our fans and inspire our team to win championships. That’s really what we’re focused on. We had the opportunity, and we’re really excited about it.”

It’s unclear whether the sale of Adelson’s shares to the Dumonts has been officially finalized or whether it’s still pending approval from the NBA’s Board of Governors. MacMahon’s report also doesn’t indicate how the Mavs were valued in the agreement. In its most recent NBA franchise valuations, Sportico estimated that the team is worth $6.35 billion.

Cuban still controls a 27% stake in the Mavericks. However, the terms of his initial agreement with the Adelson/Dumont family allow the Dumonts to buy another 20% from Cuban before the end of 2027 at the original $3.5 billion valuation, which would increase the family’s overall stake in the club to 89%. Dumont confirmed earlier this month that he intends to take advantage of that opportunity and reiterated that point to MacMahon.

“Our plan is to look at that and to do that over time,” Dumont said of buying another 20%. “I just have to tell you: I love Mark. He’s been a great family friend for a really long time. He’s just a super passionate Mavs fan and he’s frustrated. I respect it. We’re going to hopefully do him proud. That’s my goal — to make all of our Mavs fans super proud about the success of the team and win a championship.”

Dumont is heading up plans to build a new arena for the Mavericks. The team entered into an option agreement earlier this year to buy a 104-acre tract in north Dallas at the former Valley View Mall site. According to MacMahon, that land is currently being re-zoned to allow for the construction of a new arena, which Dumont vows will be a “world-class” building. The team’s lease at American Airlines Center expires in 2031.