If you walked into the American Airlines Center today, you’d probably still see him. The t-shirt, the frantic energy, the way he leans over the court like he’s about to sub himself in. But honestly, the answer to what team does mark cuban own has become a lot more complicated lately.
It’s the end of an era. Sorta.
For over two decades, Mark Cuban was the Dallas Mavericks. He wasn't just the guy who signed the checks; he was the face, the loud voice, and the most fined owner in NBA history. But as of 2026, the deed to the house has mostly changed hands. If you’re looking for a simple answer, here it is: Mark Cuban is now a minority owner of the Dallas Mavericks. He sold the majority stake to the Adelson and Dumont families, the titans behind the Las Vegas Sands casino empire.
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The Big Sale: Breaking Down the Percentages
Back in late 2023, the sports world got rocked. Cuban decided to sell about 73% of the team. It wasn’t because he was bored or broke. Far from it. The deal valued the Mavs at a staggering $3.5 billion. Think about that for a second. He bought the team in 2000 for $285 million. That is a return on investment that would make any Shark Tank contestant weep.
Currently, Cuban holds a 27% ownership stake.
While 27% still makes him a very big deal, he is no longer the "Governor" of the team. That title now belongs to Patrick Dumont. This shift is huge. In the NBA, the Governor is the one who has the final say at the board meetings. They are the ultimate boss. For years, Cuban said he’d keep control of basketball operations, but reality has been a bit more "corporate" than that.
Why the Adelsons?
You might wonder why a guy like Cuban, who loves basketball more than almost anything, would hand over the keys to casino moguls. It basically comes down to two words: Real Estate.
- Gambling Laws: The Adelsons are pushing hard to legalize sports betting and casino resorts in Texas.
- The Vision: They want to build a massive "destination resort" in Dallas that includes a brand-new arena.
- The Money: Building a $2 billion casino-arena complex requires the kind of capital and political weight that the Sands Corp. brings to the table.
Cuban admitted he isn't a real estate developer. He’s a tech and basketball guy. He realized that for the Mavericks to reach a $10 billion or $20 billion valuation, they needed to be more than just a basketball team—they needed to be a landmark.
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The 2025-2026 Reality Check
Things haven't been all sunshine and rainbows since the transition. If you follow the league, you know the vibes in Dallas have shifted. The most shocking moment of the "New Era" was the February 2025 trade that sent superstar Luka Dončić to the Los Angeles Lakers.
That move was the smoking gun that proved Cuban isn't the one calling the shots anymore. Reports surfaced that Patrick Dumont was the "ultimate decision-maker" in that trade. It’s a bitter pill for Mavs fans to swallow. For years, Cuban was the shield for the front office. Now, he’s in a weird spot where he has to support a leadership group that is making moves he might not have made himself.
Does He Own Anything Else?
While the Mavericks are his most famous asset, the question of what team does mark cuban own extends into some smaller, more niche corners of the sports and business world.
He still has his hands in 2929 Entertainment, which he co-owns with Todd Wagner. They own Magnolia Pictures and Landmark Theatres. In the sports-adjacent world, he’s heavily involved in Harbinger Sports Partners, a firm that helps other people buy minority stakes in pro teams. Basically, he’s turned his 25 years of experience into a consulting and investment powerhouse.
He also recently made headlines for his massive donations to the Indiana University athletic department. While he doesn't "own" the Hoosiers (obviously), his influence over their NIL (Name, Image, and Likeness) funding is so significant that he’s basically a silent partner in their recruitment strategy. He’s been very vocal about making the Hoosiers "happier" through his pocketbook.
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The Cost Plus Drugs Factor
It’s also worth noting that Cuban’s focus has shifted away from the sidelines and toward the pharmacy. Mark Cuban Cost Plus Drug Company is arguably his "new team." He spends a massive amount of his time trying to disrupt the pharmaceutical industry by providing low-cost generic drugs. To him, saving people money on life-saving meds has become the new "championship hunt."
What This Means for You (and the Mavs)
So, if you’re a fan or just a casual observer, what should you actually take away from this?
First, don't expect Cuban to disappear. He’s still going to be at the games. He’s still going to be active on X (formerly Twitter). But the "Cuban Era" of the Mavericks—where a single, boisterous billionaire called every single play—is over. We are now in the "Corporate Resort Era."
Actionable Insights for Fans and Investors:
- Watch the Texas Legislature: The value of Cuban's remaining 27% stake depends entirely on whether Texas legalizes gambling. If they do, the Mavericks' valuation will skyrocket, and Cuban will make another billion without lifting a finger.
- Follow the Governance: Keep an eye on Patrick Dumont’s moves. The firing of GM Nico Harrison in late 2025 showed that the new ownership has a very short fuse compared to Cuban’s long-term loyalty to guys like Donnie Nelson or Rick Carlisle.
- Check the "Shark Tank" Exit: Cuban has officially moved on from Shark Tank. This signals he is consolidating his time. If you’re looking for where he’ll invest next, look toward AI and healthcare, not necessarily more sports teams.
The bottom line is that Mark Cuban is transitioning from a "Team Owner" to a "Legacy Partner." He’s still in the building, but he doesn't own the building anymore.
Next Steps to Track the Story:
To stay ahead of how the Mavericks' ownership continues to evolve, you should monitor the Texas state house sessions regarding "destination resort" bills. Additionally, watch the NBA's upcoming TV rights distributions in 2026, as these will further dictate whether Cuban decides to hold onto his remaining 27% or cash out completely to focus on his pharmaceutical ventures.