Mavericks owners froze Mark Cuban out of business – Business News
Mark Cuban is accusing Dallas Mavericks governor Patrick Dumont of freezing the staff’s former majority proprietor out of business alternatives in a proposed transfer of the membership out of downtown, based on a newspaper report.
The Dallas Morning News reported Wednesday that Cuban alleges Dumont has engaged in “adversarial business practices” in his bid to maneuver the staff about 10 miles north of downtown to the previous web site of a Dallas mall.
A Mavericks spokeswoman advised The Associated Press the staff wouldn’t remark. Cuban didn’t instantly reply to a request for remark.
Mark Cuban talks with reporters after an occasion on the White House, May 18, 2026, in Washington. AP Photo/Julia Demaree Nikhinson
The billionaire businessman offered his majority stake in 2023 to the households of Miriam Adelson and Dumont, who’s Adelson’s son-in-law.
Cuban mentioned he had an settlement to proceed operating basketball operations, however Dumont gave former normal supervisor Nico Harrison full control of the basketball facet.
The newspaper reported that Cuban mentioned within the submitting he was unaware of Harrison’s plan to commerce celebrity Luka Doncic to the Los Angeles Lakers in February 2025 till it was too late to object and call off the commerce.
The surprising commerce backfired on the Mavericks, and Harrison was fired in November after the staff’s gradual begin to the 2025-26 season.
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Cuban owns 27% of the Mavericks, however the newspaper reported there may be a clause within the buy settlement that the Adelson and Dumont households can buy one other 20% of Cuban’s stake.
The submitting by Cuban comes a little more than a month after the Mavericks signed an option settlement to buy roughly 104 acres in north Dallas, half of a plan to construct an area that may open in 2031.
The Mavericks’ lease at American Airlines Center expires in 2031. The staff has been downtown because it debuted as an enlargement franchise in 1980.
Cuban mentioned his companies had been “contractually entitled to participate” within the transfer to the new web site, which the submitting describes as “a unique investment opportunity.”
