When Mark Cuban sold the Dallas Mavericks, he said he got out in part because the NBA used to be a tech business (his strength) and was becoming a real estate business.
To that end, the Mavericks announced plans this week to build a new arena and surrounding entertainment district in the Valley View area of Dallas, about 12 miles north of their current arena (but within the Dallas city limits).
The goal is to have the team move in for the 2031-32 season, when the team’s lease at the American Airlines Center is up.
“We have the opportunity to create a vibrant mixed-use destination anchored by a state-of-the-art arena, along with restaurants, entertainment options, public green spaces and family-friendly experiences,” the team said in a statement announcing the deal. “Done thoughtfully and with community engagement, a project of this scale will serve as a meaningful economic catalyst for Dallas and its residents.”
This should end the speculation that the new owners, the Adelson and Dumont families — which also run the Sands Casino empire — planned to move the team to Las Vegas. The Mavericks hired Rick Welts and made him CEO to oversee this arena project — he had overseen the Warriors’ construction of the Chase Center in San Francisco.
The Mavericks are moving from near downtown Dallas to the former Valley View Mall site in North Dallas, where they have more than 100 acres to build out their entertainment district. That said, they are staying within Dallas, something the organization said was a priority.
“We believe in Dallas, and our priority has been clear from the beginning: keeping the Dallas Mavericks in Dallas,” the Mavericks’ statement said.