Mark Cuban will not be able to wrestle back control of the Dallas Mavericks any time soon.
The Dumont and Adelson families, current majority owners of the Mavericks, gave a statement on Wednesday night to veteran NBA writer Marc Stein. In the statement, they emphasized the team was not for sale.
“The team is not for sale and the [Dumont and Adelson] families look forward to expanding their ownership stake over time,” the statement read. “The Dumont and Adelson families remain fully committed to the Dallas Mavericks’ franchise and to the Dallas community. They remain focused on building a championship organization for the long term.”
This comes after news broke earlier this week that Cuban, the former controlling owner of the Mavericks, is looking to partner with an unidentified investor group in order to purchase the team. Cuban sold off his majority share in the franchise to the Dumont and Adelson families back in 2023 at a $3.5 billion valuation but is now apparently hoping to buy back the majority ownership of the Mavericks.
Now 67 years old, Cuban initially bought the team in 2000 for a sum of $285 million. But after four conference finals berths, two NBA Finals appearances, and a championship in 2011, Cuban decided to sell his controlling stake in the Mavericks (later explaining exactly why he chose to do so). Now Miriam Adelson and her son-in-law Patrick Dumont (who now serves as the governor of the Mavericks) are the team’s controlling owners.
But under Adelson and Dumont, the Mavericks have dramatically changed course, most notably by shockingly trading away superstar cornerstone Luka Doncic to the Los Angeles Lakers in February 2025. Cuban, who remains a minority owner of the franchise, was not consulted in the decision to trade Doncic as he had seemingly been pushed to the fringes by the new leadership group.
The billionaire businessman Cuban did manage to score a recent victory by reportedly helping to get ex-Mavericks general manager Nico Harrison fired. But as for Cuban’s efforts to buy back majority control of the franchise, those look like nothing more than a pipe dream right now.