Dumont Family Takes Control of Dallas Mavericks as Miriam Adelson Sells Stake to Daughter and Son-in-Law

Miriam Adelson, the billionaire Republican donor, has sold her stake in the Dallas Mavericks to her daughter and son-in-law, making their family the team’s controlling owners.Sivan and Patrick Dumont purchased Ms. Adelson shares last month, according to an ESPN report, bringing the Dumont family’s ownership to a reported 69 percent. Ms. Adelson, an 81-year-old Israeli American, has reportedly had minimal involvement with the Mavericks since purchasing a majority stake in the team in 2023.Mr. Dumont, the chief executive of Las Vegas Sands, has served as the Mavericks governor since the team was acquired from Mark Cuban at a $3.5 billion valuation. Mr. Cuban continues to own 27 percent stake in the club.Meanwhile, Ms. Adelson has used her estimated net worth of about $41.6 billion, to exert political influence linked to her support for Israel, a topic that has been a central issue throughout her public life.She has been one of President Trump’s biggest financial supporters, contributing about $100 million to support his 2024 campaign. The Adelsons also contributed a reported $90 million to back his failed re-election bid in 2020. Miriam Adelson was also on the list of donors to Mr. Trump’s $300 million ballroom at the White House.Mr. Trump acknowledged the Adelsons’ influence on his administration’s view on Israel-related issues, saying they had made “more trips to the White House than anyone else.”For Mr. Dumont, the ownership change comes amid a sweeping effort to remake the franchise on and off the court, including a new arena planned for north Dallas and an on-going overhaul of the basketball operation.“It’s really about long-term investment in the city of Dallas,” Mr. Dumont told ESPN. “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 of the Dallas Mavericks, a great experience for our fans and inspire our team to win championships.”Under the terms of the 2023 sale, Mr. Dumont can purchase another 20 percent of the team from Mr. Cuban at the original valuation. Mr. Dumont said the family will consider that option in time, while expressing their affection for Mr. Cuban. “Our plan is to look at that and to do that over time,” Mr. Dumont said.The transition since 2023 hasn’t been smooth. Mavericks’ fans were upset when Mr. Dumont approved former general manager Nico Harrison’s decision to trade Luka Doncic to the Los Angeles Lakers, months after Dallas reached the 2024 NBA Finals.Mr. Dumont ultimately fired Mr. Harrison last November, then hired former Toronto Raptors executive Masai Ujiri to run the team. Mr. Ujiri decided to fire head coach Jason Kidd during the offseason and hire Dusty May, who had just coached Michigan to the NCAA men’s national championship.Mr. Dumont has already made several changes throughout the franchise, making hires in eight of its 11 senior positions over the past two years.While Cooper Flagg, the reigning Rookie of the Year, gives the Mavericks hope for on-court success, the franchise is also investing heavily in facilities and a new arena, scheduled to open in 2031 on a 104-acre site in north Dallas.Mr. Dumont recruited former NBA executive Rick Welts out of retirement to help guide the project. Mr. Welts helped develop the Chase Center for the Golden State Warriors. “I can’t guarantee championships but this franchise is destined for great success because of the leadership that Patrick has put in place on the business and basketball sides,” Mr. Welts said.Mr. Dumont, who oversaw the construction of the Venetian Arena in Macao, China, said he’s committed to developing the best arena in the NBA. “It starts with the court and expands outwards,” he said. “I want to make sure the fans have the best experience possible because we owe it to them.”Meanwhile, the practice facility underwent an eight-figure renovation along with the team’s business offices.How visible Ms. Adelson will be at future Mavericks games is uncertain. For now, she must be smarting over the results of the mid-terms elections where the Republican party she heavily supports was trounced. She reportedly donated $67.63 million to Republican candidates and committees, nearly $65 million more than Atlanta Hawks owner Tony Ressler, who was the second-highest sports donor among NBA owners.According to Federal Election Commission filings, she gave a six-figure check to the Republican National Committee, $25 million to MAGA Inc., as well as $30 million to the Republican’s Senate Leadership Fund, and $10 million to another the Conservative Leadership Fund.

Dumont Family Takes Control of Dallas Mavericks as Miriam Adelson Sells Stake to Daughter and Son-in-Law

Dumont Family Takes Control of Dallas Mavericks as Miriam Adelson Sells Stake to Daughter and Son-in-Law

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