There is new speculation about where the Dallas Mavericks could be moving. Mavs owner Mark Cuban confirms he is selling a stake in the team to support his goal of building a new Dallas arena, and the buyers are casino people. NBC 5’s Ken Kalthoff has the story.
There was speculation Wednesday about where the Dallas Mavericks NBA team may move after owner Mark Cuban confirmed Tuesday he is selling a majority stake in the team.
Cuban and the new owners said they are not planning to move the team from Dallas.
But Cuban told NBC5’s Newy Scruggs the sale is helping pursue his plan to move the team out of the American Airlines Center and into a new arena.
And Cuban for years has promoted the idea of a new stadium that would be connected to a casino.
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The Mavs buyer is Miriam Adelson and her Las Vegas Sands Corporation, which have been lobbying Texas, unsuccessfully so far, to approve casino gambling.
If there is a new arena, Dallas City Council Member Zarin Gracey said the location should be adjacent to the planned new Dallas Convention Center.
“Just in and of itself, the convention center development is one thing. To add a potential relocation of the Mavericks downtown in that area as well as a casino, this could absolutely be a destination for really a lot of the country coming and have a good time in one area,” Gracey said.
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Zarin Gracey is Chairman of the City Council’s Professional Sports Retention and Recruitment Committee created by Dallas Mayor Eric Johnson.
“I think together we can collectively come up with a smart way to make a deal like this happen in a way that benefits all of the City of Dallas,” Gracey said.
Voters approved the new Kay Bailey Hutchison Convention Center near I-30 in November 2022 and the financing method to pay for it with hotel and visitor taxes.
In September of this year, the Dallas City Council approved a deal with the firm of well-known developer Jack Matthews to complete the design and construction of the new convention center.
Initial renderings show a structure reoriented the create lots of available land for new development where the old convention center building stood before.
“Adding what could be potentially a casino and a basketball arena is just an outstanding opportunity,” Gracey said. “It’s going to change the landscape of Downtown Dallas.”
Dallas officials have also said they want to see new downtown housing in the convention center area. New deck parks over I-30 connecting with the Cedars neighborhood are also part of the convention center plan.
What could be good for that part of Dallas might not be so good for the neighborhood around the American Airlines Center if the Mavericks games are no longer played there.
When there’s no action at the AAC, business is very slow at the Mesero Restaurant down the street.
“Right now it’s like lunchtime and it’s really slow. But when we have a game, it’s really packed, like a lot a lot of people,” Mesero hostess Monica Sanchez said.
Other real estate could be in play for the Mavericks.
Cuban also owns the Mavs practice facility across the Stemmons Freeway from the AAC, but that site is likely too small for a new arena and casino.
The former Reunion Arena site has been mentioned in the past as a potential casino location if Texas lawmakers approve casinos. It is also near the Convention Center and has direct access to rail transit.
“It would be an interesting full circle, if you will, to see the Mavs come back right there,” Gracey said.
If the Mavs leave, Dallas Stars hockey and concerts could still be at the AAC.
“Yeah, but that would not be enough,” Sanchez said. “We have a lot of employees and it would impact really bad for our families.”
Cuban stands to receive a $3.5 billion windfall in the sale of the team he purchased for $285 million in 2000.
The Mavericks' lease at the American Airlines Center expires in 2031.
Dallas Stars executives have said in the past that they intend to stay at the AAC.
