A petition filed by Mark Cuban may indicate that he intends to sue Patrick Dumont and his family, the new owners of the Dallas Mavericks.
After serving as the Dallas Mavericks’ principal owner for 23 years, Mark Cuban sold the team’s majority stake in 2023 for $3.5 billion. Now, according to a report by MavsRoundtable, he has filed a “pre-suit deposition” in Dallas County District Court regarding the franchise’s proposal to fund a new arena.
The filing includes a discovery request to investigate potential lawsuits against Arena Development Intermediate LLC (ADI), a company created by Dumont and the Dallas Mavericks to support the construction of a new arena and related properties.
“Petitioner seeks information regarding the financing of a new Dallas Mavericks arena at Valley View and the exploration and identification of locations for the new arena, among other things,” reads the filing.
The complaint implies that keeping Cuban out of all decisions and information pertaining to the new venue violates his “existing contracts and rights.”
“The Petitioners’ potential claims arise from and relate to these purposeful contacts; specifically, ADI’s pursuit of business opportunities related to the Dallas Mavericks and their new arena may improperly interfere with Petitioners’ existing Texas contracts and related rights,” the paperwork reads.
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It also cites Patrick Dumont for “adversarial business practices and history of failing to uphold his end of the bargain.”
As part of his sale of the Dallas Mavericks to Dumont and the Adelson family, Cuban says he made a “handshake arrangement” that involved “the clear division of responsibilities: Cuban would retain authority over the Mavericks’ basketball operations, while Dumont would oversee the business side of the franchise, including real estate development and the pursuit of an integrated, destination resort casino in Dallas.”
The filing goes on to state, “Dumont did not fulfill his end of this agreement, and I did not retain control over basketball operations. Instead, former General Manager Nico Harrison was put in charge, leading to the trade of Luka Doncic. When I discussed this with Dumont over the phone, he told me: ‘Why would I give you control of a $4 billion asset?'”
According to the Dallas Morning News, a provision in the purchase agreement permits the Adelson and Dumont families to purchase an additional 20% of Cuban’s 27% ownership of the Mavericks. In a statement, the families said they “look forward” to expanding their stake in the Mavericks.
In March of this year, Mark Cuban told the Intersections podcast, “I don’t regret selling. I regret who I sold to. I made a lot of mistakes in the process, and I’ll leave it at that.”