Billionaire Mark Cuban’s legal battle with the majority owners of the Dallas Mavericks is inching ahead, with a hearing set in Dallas County District Court.
The hearing pushes a heated disagreement over the Mavericks’ new arena plans back to the forefront. Cuban’s petition questions the team’s process in choosing the former site of Valley View Center mall in North Dallas for a new multibillion-dollar arena and entertainment district. The petition also argues that the team’s new ownership group, led by Miriam Adelson and Patrick Dumont of the global casino and resort giant Las Vegas Sands Corp., shut him out of basketball operations following Cuban’s December 2023 sale of his majority stake.
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The two Cuban entities — Radical Hoops Ltd. and Radical Mavericks II LLC — filed the pre-suit petition earlier this month against Dumont, the team’s governor. Cuban alleges in the petition that Dumont and the new majority owners used a corporate entity called Arena Development Intermediate LLC, or ADI, to freeze him out of a lucrative real estate deal at the 104-acre Valley View site that the Mavericks have under contract through an option agreement. Cuban claims his companies are contractually entitled to participate in the development of an arena and mixed-use entertainment district that the Mavs could move into ahead of their lease expiration at the American Airlines Center in 2031.
The Rule 202 petition, filed July 6, states Cuban is seeking testimony and evidence related to the Valley View option contract, the financing of the new arena, the broader search for a new arena site, the corporate structure of ADI and existing and anticipated investment opportunities related to the new arena. Cuban’s legal team is also seeking all agreements related to the proposed new arena, communications between ADI and Seritage Growth Partners and financial records associated with the Valley View option contract.