Republican megadonor Miriam Adelson has sold her majority stake in the NBA's Dallas Mavericks to her daughter and son-in-law, Sivan and Patrick Dumont, who now hold a 69 percent share of the team. ESPN was the first to report on the transaction.
Adelson, the widow of casino magnate Sheldon Adelson, no longer ranks as the top political donor among American team owners following the sale. She had previously contributed heavily to Republican campaigns, including $67.6 million in the current cycle according to Federal Election Commission filings. In 2024, she reportedly spent around $100 million to support Donald Trump's presidential campaign.
Adelson, along with the Dumonts, acquired a majority stake in the Mavericks from Mark Cuban in 2023, valuing the team at $3.5 billion. The purchase was financed by Adelson's reported sale of $2 billion in Las Vegas Sands shares. Cuban retains a 27 percent stake in the team.
Patrick Dumont, CEO of Las Vegas Sands, told ESPN that the family is committed to a long-term investment in Dallas. "The Dumont family is really committed to building what we hope is the best arena in the NBA, a really significant investment in the city that will help create the new 40-year home for the Dallas Mavericks," he stated. Dumont also expressed respect for Cuban and a goal to make Mavericks fans proud.
The NBA's board of governors approved the transaction. Dumont acknowledged the challenges of being a new owner and emphasized his focus on winning and supporting the team's passionate fanbase.