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While Mark Cuban retains a 27% stake in the team, the transition marks a significant shift in leadership. Under the terms of the original 2023 sale, the Dumont family holds an option to purchase an additional 20% from Cuban based on a $3.5 billion valuation, a move Patrick Dumont indicated is part of their long-term strategy. Despite reports of friction regarding the transition, Dumont expressed respect for Cuban’s passion and his history with the franchise.
Strategic Overhaul and Future Infrastructure
Since taking the helm, the new ownership group has initiated a comprehensive restructuring of both basketball and business operations. On the court, the franchise has pivoted toward a new direction, hiring
The organization is also prioritizing major infrastructure projects, most notably the development of a new arena slated for a 2031 opening. The team has secured an option to purchase a 104-acre site at the former Valley View Mall for this purpose. Rick Welts, who joined as CEO in 2025 to oversee this transformation, noted that design progress is currently ahead of schedule. Welts is set to retire at the end of this year, with former Minnesota Timberwolves CEO Ethan Casson designated as his successor.
Beyond the future arena, the franchise has invested heavily in its current facilities. Recent upgrades include an eight-figure renovation of the team's practice facility, which now features the Champions Performance Kitchen, a high-end culinary space designed to support player nutrition. As the ownership group continues to refine its operations, Patrick Dumont remains focused on his primary objective: delivering a championship-caliber experience for the Mavericks' fanbase.