Mark Cuban Sparks Legal Battle With Sands CEO Dumont Over New Mavericks Arena Deal

Mark Cuban has launched a legal battle against Dallas Mavericks majority owner Patrick Dumont, alleging “adversarial business practices” over a plan to move the NBA team to a new site within the DFW Metroplex.

In late 2023, Cuban sold the team to Dr. Miriam Adelson, but retained a 27% stake. Adelson, the largest shareholder of Las Vegas Sands (NYSE: LVS), appointed Dumont, her son-in-law and now chief executive officer of the casino operator, as governor of the franchise.

In a court petition filed against Dumont, Cuban notes he’s “contractually entitled to participate” in the economics of a proposed move of the Mavericks to a 104-acre site known as Valley View.

The court petition isn’t a formal civil suit, meaning that as of this moment, Cuban isn’t pursuing financial damages against Dumont or the Mavericks. Cuban is, however, demanding transparency about the pitch to possibly move the team to another Metroplex location.

Currently, the Mavericks play home games at the American Airlines Center in downtown Dallas.

‘Handshake Deal’ Gone Bad

In the legal filing, Cuban alludes to another possible source of bad blood between Dumont and himself.

The “Shark Tank” star says that when he sold his majority stake in the franchise to Adelson, he and Dumont had a “handshake deal” in which Cuban would maintain control of basketball operations.

However, Dumont put General Manager Nico Harrison in charge of all things basketball, leading to the disastrous 2024 trade of Luka Doncic to the Los Angeles Lakers. Cuban said he would not have committed to that trade and that Dumont and Harrison didn’t run the deal by him. Harrison is no longer with the Mavericks.

The efficacy of the Cuban/Dumont handshake accord is for a court to decide, but legal precedent indicates such deals are difficult to prove in court because they amount to “he said, she said” situations.

Examining Mavs Real Estate Plans

Before Miriam Adelson acquired majority control of the Mavericks, an LLC tied to Las Vegas Sands bought 108 acres near the former Texas Stadium site. The plan was to develop a mixed-use entertainment district anchored by a new Mavericks arena and a casino hotel.

The gaming company shifted gears, more recently acquiring 104 acres at the Valley View site. Cuban said he was excluded from that deal, telling the court that he learned about it through a Sands disclosure with the Securities and Exchange Commission (SEC).

Despite Sands pouring millions of dollars into campaigns and candidates, Texas has yet to approve casino gaming, but Cuban previously made clear he wants to partner with Sands develop the prospective entertainment district.