Mavs owner Patrick Dumont hits back after Mark Cuban admits 'I regret who I sold to'

The partnership between Mark Cuban and Patrick Dumont has turned into an ugly courtroom battle. It started as a private ownership dispute but has spilled into public view, with both sides fighting over who gets a say in building the next Dallas Mavericks arena. 

Their clash centers on a potential arena site at the old Valley View Mall in North Dallas. Dumont's group formed a Delaware company called Arena Development Intermediate (ADI) to secure purchase options on the 104-acre property. 

In response, Cuban filed a Rule 202 petition to force the company to hand over corporate records and submit to depositions. Cuban claimed that Dumont broke their agreement by intentionally cutting him out of the entire development plan.

Dumont fired back in a July 31 filing, arguing that there is simply nothing to share yet. Because ADI has not officially used its option to buy the Valley View property, the filing states there is "no current business opportunity to present to Mr. Cuban." 

The Mavs owner also argued that the fight belongs in private, secret arbitration. He blamed Cuban for breaking a confidentiality agreement just to create a media circus.

The courtroom drama has been building for months. Back in March, Cuban admitted, per ESPN, "I regret who I sold to. I made a lot of mistakes in the process, and I'll leave it at that."

He later told Front Office Sports that a new investment group actually approached him about buying the Mavericks back. Cuban still owns a 27% minority stake in the $3.5 billion team, while the Adelson and Dumont families own 69%. However, the majority owners have the right to buy another 20% of Cuban's share, which would leave him with just 7%.

The root of the problem goes back to a handshake deal during the 2023 sale. Cuban says he was promised total control over basketball decisions while Dumont ran the business and real estate sides. Instead, Cuban was completely sidelined while Nico Harrison took over basketball operations.

That broken promise triggered frustration, a highly criticized trade involving Luka Doncic, and now a bitter legal battle over an arena that does not even exist yet.

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