DALLAS — In the wake of Tuesday reports that Mark Cuban would be selling a majority stake of the Dallas Mavericks, the would-be new owners issued a statement on Wednesday afternoon confirming their intention to take over governorship of the franchise.
The statement was sent out to the media shortly before 12:30 p.m. on Wednesday on behalf of the Adelson and Dumont families.
Miriam Adelson, 78, is the fifth-richest woman in the world, according to Forbes, and the widow of the late casino magnate Sheldon Adelson, who founded the Las Vegas Sands Corp. In the wake of her husband's passing, Miriam became the majority owner of that international casino conglomerate.
Patrick Dumont, 49, is the president and COO of Las Vegas Sands Corp., and Miriam Adelson's son-in-law, having married one of her children from her first marriage. Dumont took over day-to-day operations of Las Vegas Sands Corp. in the wake of his stepfather-in-law's passing.
Beyond confirming their intentions to purchase a majority ownership of the Mavs, the statement seemingly additionally confirms the families' intention to keep Mark Cuban involved in the franchise's operations, and to keep the franchise entrenched in Dallas.
Read their shared statement in full below:
The Adelson and Dumont families have entered into binding purchase agreements to acquire majority ownership and the right to serve as Governor of the Dallas Mavericks.
The families are targeting a closing of the transaction by year-end, subject to satisfaction of customary closing conditions and approval of the NBA Board of Governors.
The Dallas Mavericks are one of the world’s most successful and recognizable sports franchises. The team has won an NBA championship, has a long history of attracting international superstars and has been supported by a dedicated and passionate fanbase and leadership group led by Mark Cuban.
The Adelson and Dumont families are honored to have the opportunity to be stewards of this great franchise. Through our commitment and additional investment in the team, we look forward to partnering with Mark Cuban to build on the team’s success and legacy in Dallas and beyond.
The goal is to win and to have a team that proudly represents the greater DFW area and serves as a strong and valuable member of the local community.
We believe that with this partnership and our commitment to the team, the community and the fans, the future is bright for the Dallas Mavericks.
Cuban has not yet publicly commented on the deal. Read more about Miriam Adelson's history here.