DALLAS — The Dallas Mavericks have hired a new CEO with 46 years of experience in the sports and entertainment industry, the team announced.
Rick Welts will replace outgoing CEO Cynt Marshall starting Jan. 1, the Mavericks said in a press release. Welts has previously served as President and COO of Golden State Warriors, President of the NBA's Pheonix Suns and the WNBA's Phoenix Mercury, according to the release.
He has also previously served as the NBA's Senior Vice President, Chief Marketing Officer and President of NBA Properties. While with the NBA, he was credited with the creation of NBA All-Star Weekend in 1984 and the marketing program for USA Basketball’s Olympic “Dream Team” in 1992, the release states.
“Rick Welts is among the most successful executives in the history of the NBA and a member of the Hall of Fame," said Mavericks Governor Patrick Dumont in the release. "To have him join us as we continue to build on the successful history of the Mavericks is a clear signal that this organization is serious about both growing its position as an elite NBA team and further positioning the franchise among the most popular sports teams in the world.”
Welts began his career in the NBA at age 16 as a ball boy with the SuperSonics in 1969, the release states. Later, he was part of the franchise’s lone NBA championship in 1979 as its public relations director. He was inducted into the Basketball Hall of Fame in 2018 after being part of championship teams in the NBA, WNBA and NBA G League, the team said.
Along with Val Ackerman, he was named “Marketer of the Year” by Brandweek in 1998 for his role in launching the WNBA.
“The chance to lead this organization in this city at this time is both incredibly exciting and unexpected,” said Welts. “I appreciate Patrick’s confidence in selecting me to build upon the culture and success that Cynt Marshall and Nico Harrison have created.
Cynt Marshall, the outgoing CEO, led the team for seven years. Mark Cuban hired Marshall in 2018, the franchise was reeling from allegations of sexual assault and workplace misconduct. She played a pivotal role in strengthening the team’s ties to the North Texas community through a range of philanthropic initiatives, WFAA previously reported.
She will act as a consultant for the organization through December 2025.
“It gives me great pleasure to pass the baton to my friend, Rick Welts. From the day I joined the Mavs, I’ve benefited from his knowledge and vast experience in the sports and entertainment industry,” said Marshall. “I love our team so much and I’m happy that they will be in such great hands.
