NBA approves sale of Dallas Mavericks to Adelson and Dumont families

The NBA on Wednesday gave the green light to transfer controlling ownership of Mark Cuban’s Dallas Mavericks to companies affiliated with the Las Vegas Sands casino company. The ownership change comes less than a month after the Adelson and Dumont families publicly expressed their desire to purchase the basketball team. The transaction values ​​the club at around $3.5 billion.

In this new structure, Patrick Dumont, Miriam Adelson’s son-in-law and president and COO of Las Vegas Sands, will assume the role of governor of the Mavericks. Adelson, the widow of well-known casino tycoon Sheldon Adelson, is part of the buying group.

Mark Cuban, the outgoing principal owner, will retain his influence over basketball operations. Additionally, there are currently no plans to move the Mavericks from Dallas.

Miriam Adelson expressed her enthusiasm for the project. “The state of Texas has always been kind to our family and we look forward to repaying that kindness. I look forward to spending time cheering on the team and getting to know members of its passionate fan base,” she said.

Patrick Dumont also shared his vision for the Mavericks’ future. “We look forward to working with Mark Cuban as stewards of this great franchise and bringing another NBA championship to the city of Dallas.” “We are committed to the long-term success of the Mavericks and to our fans, players, employees, sponsors and partners provide a first-class hospitality experience,” explained Dumont.

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Cuban’s plans to work with Las Vegas Sands may include developing a new arena in downtown Dallas that would incorporate a hotel and casino. This plan is consistent with Cuban’s long-term vision for the team.

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