The Dallas Mavericks have a new controlling owner.

Patrick and Sivan Dumont bought Miriam Adelson's shares of the team last month. The Dumont family now owns 69% of the franchise.

Adelson is Sivan Dumont's mother. She has had little to do with the team since the families bought the majority stake from Mark Cuban in December 2023.

"Long-term investment"

Patrick Dumont has been the Mavericks' governor since the sale. He said the move is about the future of the team in Dallas.

"It's really about long-term investment in the city of Dallas," he said Tuesday. He said the family wants to build "the best arena in the NBA" as the team's home for the next 40 years.

The new arena is planned to open in 2031. The team has an option to buy a 104-acre site at the old Valley View Mall in north Dallas.

What about Cuban?

Cuban still owns 27% of the Mavericks. He has said he regrets selling after being shut out of team decisions.

Under the 2023 deal Dumont can buy another 20% from Cuban at the original $3.5 billion value. Dumont said he plans to do that over time.

"I love Mark," Dumont said. "He's just a super passionate Mavs fan and he's frustrated. I respect it. We're going to hopefully do him proud."

A bumpy ride

Fans were furious when Dumont approved the trade that sent Luka Doncic to the Los Angeles Lakers. It came months after Dallas reached the 2024 NBA Finals.

Since then the team has rebuilt around Cooper Flagg, the reigning Rookie of the Year. Dumont fired general manager Nico Harrison last November.

He hired former Toronto Raptors executive Masai Ujiri as president in May. Ujiri brought in coach Dusty May and general manager Mike Schmitz.

"This is Masai Ujiri's team," Dumont said. "He's got a ring. He knows what he's doing."

Dumont, who is also the CEO of Las Vegas Sands, said his job is simple. "It's my job to make sure that we win and that we support our fans."