Miriam Adelson paid Mark Cuban $3.5bn for the stake in 2023 before handing control to family in October.
The hit
Las Vegas Sands Chairman & CEO Patrick Dumont has taken control of his family’s 73% stake in the Dallas Mavericks. According to an initial report by ESPN, billionaire Miriam Adelson transferred the ownership position to Dumont & her daughter, Sivan Ochshorn, in October, removing herself from the group.
Why it matters
Dumont & Ochshorn now jointly control the 73% stake. Dumont has been team governor since December 2023, & the NBA did not need to approve the change because the pair were already recognised as majority owners. Dumont says the Mavericks are staying in Dallas, not Las Vegas. Dumont & Cuban have previously discussed tying a casino resort to a new Mavs arena, a plan that depends on Texas lawmakers putting a constitutional amendment before voters to legalise commercial gambling.
The record
| Price Adelson paid Cuban for 73% stake | $3.5bn (December 2023) |
|---|---|
| Adelson’s net worth | around $32bn |
| Cuban’s remaining stake | 27% |
| Mavs payroll, 2026-27 season | $191.1m, ranked 23rd of 30 teams |
| Mavs record this season | 4-4 through eight games |
What happens next
Watch for Texas lawmakers to decide whether that amendment reaches voters, after Democrats won the governor & lieutenant governor races this week.
Sources: Sands CEO Patrick Dumont Acquires Mavs Stake From Adelson
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