Miriam Adelson Sells Stake in Dallas Mavericks for Billions
Translated & summarized from N12 by baba
Israeli-American businesswoman Miriam Adelson has sold her ownership stake in the Dallas Mavericks NBA team to Sivan and Patrick Dumont. The Dumonts, who were already involved with the team, now hold controlling interest. Adelson acquired her share about three years ago when the team was valued at $3.5 billion, a figure reportedly similar to the current sale's valuation. The new owners aim to build a new arena and bring championships to Dallas.
The story in 5 lines · by baba
- Miriam Adelson sold her ownership stake in the Dallas Mavericks NBA team.
- Sivan and Patrick Dumont have become the new controlling owners of the Mavericks.
- The team's valuation is reportedly around $3.5 billion, similar to Adelson's initial purchase.
- The Dumonts plan a long-term investment, including building a new arena.
- Mark Cuban still holds a portion of the team's ownership.
Israeli-American businesswoman Miriam Adelson has sold her ownership stake in the NBA's Dallas Mavericks, ending her chapter as a principal owner of the team. The sale occurred approximately three years after Adelson initially acquired her share in a deal that valued the franchise at around $3.5 billion. The new controlling owners are Sivan and Patrick Dumont, who were already involved with the team and now hold 69% of the shares.
Patrick Dumont stated that the acquisition represents a long-term investment in Dallas, with the family committed to building what they hope will be the best arena in the NBA. He emphasized their dedication to creating a new home for the Mavericks for the next 40 years, enhancing the fan experience, and inspiring the team to win championships. The Dumonts are also considering purchasing an additional 20% of the remaining 27% held by Mark Cuban.
Dumont expressed admiration for Mark Cuban, calling him a "great family friend" and a passionate fan. He acknowledged Cuban's frustration but aims to make him and all Mavericks fans proud by achieving championship success. In the past three years, the new owner served as the representative owner, overseeing the dismissal of Nico Harrison and the appointment of Masai Ujiri as team president.
While the exact sale price was not disclosed, it is expected to be similar to Adelson's initial purchase price, given the team's current valuation of approximately $3.5 billion, according to American media reports.
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