The legal dispute between Mark Cuban and Patrick Dumont over a potential new Mavericks arena site is heating up, with Dumont now arguing that Cuban is demanding involvement in a deal that does not yet even constitute a “business opportunity.”
Cuban filed a petition in Texas state court last month aimed at obtaining information he claims could show that Dumont unlawfully cut him out of opportunities after he sold his majority stake to Dumont and the Adelson family in 2023. Cuban’s rule 202 petition, which was heavily redacted, said Dumont had an obligation to keep Cuban apprised of the potential purchase of about 104 acres at the former Valley View Mall site in Dallas, which the Mavs announced as a possibility in June.
According to Cuban, Dumont did not notify him of the Valley View Mall opportunity. Further, Cuban said Dumont formed a company called Arena Development Intermediate (ADI) to pursue the arena, and incorporated it in Delaware to avoid having to make public disclosures.
Dumont hit back in a July 31 legal filing that is also heavily redacted. His filing removed the case from Texas state court to Texas business court. It says ADI has not yet exercised its option to purchase the property.
