Sands Chief Dumont Takes Control of Dallas Mavericks Stake

Patrick Dumont, chairman and chief executive of Las Vegas Sands, has assumed control of his family's 73% ownership stake in the Dallas Mavericks, according to Casino.org News, citing an earlier report by ESPN.

The stake transfer, first reported by ESPN, saw billionaire Miriam Adelson hand over her ownership position in October to Dumont, her son-in-law, and her daughter Sivan Ochshorn. Adelson is the widow of Sheldon Adelson, who built and ran Las Vegas Sands for decades before his death in January 2021. Her net worth is estimated at around $32 billion.

Adelson paid Mark Cuban $3.5 billion in December 2023 for the 73% stake, naming Dumont and Ochshorn as co-buyers at the time, with Dumont taking on the role of team governor. Ochshorn is Adelson's daughter from her first marriage to Ariel Ochshorn; the couple divorced in 1986, and Adelson married Sheldon five years later.

Adelson has now removed herself from the ownership group entirely, leaving Dumont and Ochshorn in control of the majority stake. Because the pair were already recognised as majority owners, the NBA's Board of Governors was not required to approve the restructured arrangement. Terms of the transfer were not disclosed. Cuban continues to hold the remaining 27% of the franchise.

Cuban has previously voiced regret over ceding control of the team to the Adelson family. Dumont told ESPN that relocating the Mavericks to Las Vegas is not on the table, framing the ownership as a long-term commitment to Dallas.

"It's really about long-term investment in the city of Dallas," Dumont said, adding that the family intends to build "the best arena in the NBA" as part of what he described as a 40-year home for the franchise.

Dumont also addressed Cuban's frustration with the team's on-court performance, which has included a 65-99 record over the past two seasons and the widely criticised trade sending Luka Doncic to the Los Angeles Lakers. "He's just a super passionate Mavs fan, and he's frustrated. I respect it," Dumont said, adding that his goal was to make Mavericks fans "super proud" of the team's success.

Dumont and Cuban had earlier discussed the possibility of building a casino resort alongside a new Mavericks arena, contingent on Texas lawmakers putting a constitutional amendment before voters to legalise slot machines, table games and sports betting. According to Casino.org News, the odds of that legislation passing strengthened following this week's Democratic wins in the races for Texas governor and lieutenant governor.

The Mavericks' payroll for the 2026-27 NBA season stands at $191.1 million, ranking 23rd among the league's 30 teams. Dumont, together with Adelson, now ranks among the five richest owners in the NBA. Through eight games this season, Dallas sits at 4-4, tied for last place in the Southwest Division.