Mark Cuban has gone to court over frustrations that he’s being kept in the dark about the Dallas Mavericks moving forward in their quest to build a new arena.

Cuban’s lawyers have filed a petition in Dallas County district court seeking sworn testimony from a corporate representative of the Arena Development Institute, a company formed by Mavericks ownership in Delaware.

In June, the Mavericks announced that they had entered into an option agreement for the potential purchase of 104 acres of land at the former Valley View Mall site in North Dallas.

The Mavericks’ lease at American Airlines Center expires in 2031, and the team hopes to move into a new building ahead of the 2031-32 season.

Cuban claims that this potential new arena deal could violate contracts he already has in place with the Mavericks’ owners in Texas.

In the document Cuban filed, he outlines his version of how he sold his majority stake in the Mavericks to Miriam Adelson and her son-in-law Patrick Dumont, the Sands Corporation CEO who also serves as the Mavericks governor. Cuban said he began working with them in 2019 to pass gambling in Texas. Their goal at the time was to build a “Venetian style destination resort” somewhere in the Dallas-Fort Worth Metroplex.

In 2023, Cuban officially sold his majority stake in the Mavericks to Adelson. Cuban said that they had a handshake agreement in place where he would remain in control of the Mavericks’ basketball decisions while Dumont would be in charge of the team’s business side.

“This handshake agreement was reiterated in multiple emails and orally in the presence of Dumont, Miriam Adelson, another NBA owner, and Mavericks employees,” Cuban’s legal action read.

The Athletic asked Cuban if he could produce these emails. Cuban replied, “Can’t say anything at all.”

Dumont, of course, leaned on former general manager Nico Harrison to make basketball decisions, which went well — at first. The Mavericks made separate moves for P.J. Washington and Daniel Gafford ahead of the 2024 trade deadline, which resulted in them catching fire to close that season and making a surprise run to the NBA Finals.

But all of that goodwill was erased when Harrison decided to trade Luka Dončić to the Los Angeles Lakers in February 2025 — a failed move that eventually cost Harrison his job.

In May, Dumont hired Masai Ujiri — a championship-winning executive who spent 12 seasons running the Toronto Raptors — to take over in Dallas as president and alternate governor. Ujiri will clearly wield significant power in Dallas. In one of his first major moves, Ujiri chose to fire coach Jason Kidd, despite Kidd having more than $40 million remaining on his contract.

Cuban maintains a 27 percent stake in the Mavericks but has minimal say in the day-to-day operations of the team. In the petition Cuban filed in court, he claims that Dumont once told him, “Why would I give you control of a $4 billion asset?”

— Melody Gutierrez and Nathan Fenno contributed to this report

Developer Michael Stern teamed up with Italian investor and TikToker Gianluca Vacchi in 2024. 

At the time, Stern said that Vacchi “understands new media and how to cut through the noise on social media in a way most real estate people don’t,” calling him an effective marketer and tastemaker. Online to his 22.1 million Instagram followers and 22.3 million TikTok followers, Vacchi has showcased his jetsetting lifestyle, workouts, cold plunges, and maybe most frequently, his dancing. 

Two years ago, Stern and Vacchi said they were 50-50 partners on a $4 billion pipeline of JDS Development’s projects (Stern’s firm). That included Mercedes-Benz Places Miami, the Dolce & Gabbana-branded 888 Brickell and the planned 1250 West Avenue project in Miami Beach. It later also encompassed a proposed condo buyout of the Casablanca Miami Beach. 

Since then, JDS and its partners have exited the 1250 West Avenue project. Both the Mercedes-Benz and Dolce & Gabbana condo projects are tied up in litigation, though sources previously told The Real Deal that JDS is in the process of securing new debt, and a new partner in developer Jeff Soffer for the stalled Mercedes-Benz Places, which would rescue the project. 

Meanwhile, Stern’s relationship with Vacchi has imploded. Vacchi sued Stern months ago, but that lawsuit was on hold, and further details of their dispute remained behind closed doors. 

Until recently.

Vacchi is accusing Stern of running a Ponzi scheme. In a new lawsuit, he alleges that Stern misrepresented the state of the projects, promising to use Vacchi’s investment in one development but instead diverting them to another. He also accuses Stern of violating a settlement agreement they reached this year. He wants Stern removed from the Mercedes-Benz project. 

Stern called Vacchi’s original lawsuit an abuse of the legal system that was filed “for the sole purpose of maliciously creating reputational destruction” and to extract a settlement from Stern, according to a separate lawsuit obtained by TRD. It’s unclear whether that suit was filed. Stern alleges that Vacchi failed to meet his capital obligations (in other words, didn’t invest on time, or at all). 

What we’re thinking about: What happens next with Stern? If the partnership with Soffer and the new financing closes, is all resolved? Send me a note at kk@therealdeal.com. 

CLOSING TIME

Residential: A trust paid $41.6 million for the 9,100-square-foot mansion at 8565 Old Cutler Road. The seller was 8565 Old Cutler LLC, which purchased the property in 2022 for $38 million. The property, considered a teardown, has previously housed former presidents of the University of Miami, including former U.S. Rep. Donna Shalala. 

Commercial: The industrial complex at 333 South West 12th Avenue in Deerfield Beach, the printing press for the Sun Sentinel newspaper, sold for $65 million. Gramercy Property Trust sold the property to 333 Deerfield Industrial LLC. 

— Research by Mary Diduch 

NEW TO THE MARKET 

The waterfront mansion at 9720 West Broadview Drive in Bay Harbor Islands hit the market for $36.5 million. The 0.3-acre property, with 83 feet of waterfront, a dock, boat lift, pool, outdoor kitchen, cabana and 2,000-square-foot deck, was recently developed. It’s listed with Daniela Levtov of NG International LLC. The 10,450-square-foot house has seven en-suite bedrooms, a home theater, office and library, according to the listing. Property records show Shaul and Danielle Dina own the home through a trust. 

A thing we’ve learned

Port Canaveral officials are backing a new federal bill that would make unauthorized drone flights over U.S. seaports a felony, after more than 500 drones flew over the port in 2025, raising concerns about the security of military, space and cruise operations.

Elsewhere in Florida

• West Palm Beach residents pushed back on the city’s rapid development and developer influence at a public meeting this week, WPTV reported. The proposed appointment of a Stephen Ross executive to the Downtown Development Authority fueled the protest. 
• About 50 cases of cyclosporiasis, a parasite that’s been sickening people in several states, have been confirmed in Florida. That includes five cases in Miami-Dade and five cases in Broward, according to NBC Miami. 
• The FBI is investigating whether Aventura-based TourProdEnter LLC funneled more than $300 million in Argentine Football Association sponsorship payments through U.S. banks for the personal benefit of top AFA officials, the Miami Herald reported. The company moved into an office in Aventura at the start of the year but moved out in the spring.

NASCAR O’Reilly Series qualifying results from EchoPark Speedway

Later today, NASCAR O’Reilly Series drivers take the green flag. Now, teams are rolling to the track for qualifying at EchoPark Speedway in Atlanta.

View the Atlanta starting lineup for the NASCAR O’Reilly Series below.

Atlanta/Lime Rock Menu
ARCA: Race
Truck: Prac/Qual
O’Reilly: Qual

Atlanta/Lime Rock TV Schedule

The fields makes one lap in the opening round of qualifying. The top 10 from round one advance into round 2 and make another run for the pole position.

Atlanta Qualifying Results (Top 10 – Round 1) : 1. Carson Kvapil 31.987 2. Sam Mayer 32.035 3. Sammy Smith 32.117 4. Jesse Love 32.128 5. William Sawalich 32.171 6. Taylor Gray 32.218 7. Sheldon Creed 32.224 8. Rajah Caruth 32.238 9. Patrick Staropoli 32.224 10. Brent Crews 32.279

Sam Mayer will start from the pole position. He turned a laptime at 31.994 seconds in the second round of qualifying.

EchoPark Speedway
Starting Lineup
July 11, 2026
NASCAR O’Reilly Series

Pos | Driver

1. Sam Mayer
31.994

2. Carson Kvapil
31.978

3. Jesse Love
32.020

4. William Sawalich
32.106

5. Sammy Smith
32.119

6. Sheldon Creed
32.136

7. Brent Crews
32.155

8. Rajah Caruth
32.194

9. Taylor Gray
32.200

10. Patrick Staropoli
32.302

— Failed to advance into Round 2 —

11. Austin Hill
32.286

12. Brandon Jones
32.315

13. Corey Day
32.327

14. Jeremy Clements
32.335

15. Jake Finch
32.336

16. Justin Allgaier
32.379

17. Anthony Alfredo
32.393

18. Nick Sanchez
32.400

19. Ryan Sieg
32.429

20. Kyle Sieg
32.459

21. Jeb Burton
32.545

22. Parker Retzlaff
32.547

23. Dean Thompson
32.573

24. Leland Honeyman Jr
32.583

25. Harrison Burton
32.619

26. Garrett Smithley
32.709

27. Ryan Ellis
32.778

28. Mason Maggio
32.783

29. Nick Leitz
32.857

30. Brennan Poole
32.862

31. Glen Reen
32.884

32. Lavar Scott
32.942

33. Joey Gase
32.946

34. Josh Bilicki
33.035

35. Logan Bearden
33.619

36. Carson Ware
36.110

37. Blaine Perkins
46.808

38. Jordan Anderson
No Time

Links

Atlanta Motor Speedway | Lime Rock Park | NASCAR