$5.1bn NBA team agrees relocation after securing 104-acre site to open new arena on 50th anniversary

The Dallas Mavericks have edged closer to being on the move.

The NBA team worth $5.1 billion, per Forbes, have reached a preliminary agreement on a new site downtown that would see them construct a new arena and entertainment district.

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According to ESPN, the Mavericks would move out from their current home of American Airlines Center in the Victory Park neighborhood of downtown Dallas, Texas in 2031, just after the franchise celebrates its 50th anniversary.

The team spent the first 21 years since their inception playing games at Reunion Arena in the southwest of corner of downtown before making the trip one mile up north to AAC in 2001.

Their new site is for 104 acres of land which once was the home of Valley View Mall about 10 miles north of downtown Dallas.

The mall was demolished back in 2023.

The Mavericks also considered the option of moving downtown to the site which currently situates City Hall, although Dallas City Council have yet to determine whether they will renovate the building or replace it entirely.

This with Mavs CEO Rick Welts wanting to have assurances over their future venue sooner rather than later, and settle on a site by July in order to meet the requirements of having the new arena built in time to move into by 2031, when their lease with American Airlines Center expires.

Welts and Mavs governor Patrick Dumont have been abundantly clear from the very beginning in their stance that they would not be relocating the team anywhere outside of Dallas.

Now that the site appears to have been chosen – and almost finalized – they have remained true on that.

“After seriously studying and considering several options, while working closely with the City of Dallas to identify possible locations for a new Dallas Mavericks arena and entertainment district, the Mavericks organization has entered into option agreements for the potential purchase of approximately 104 acres at the former Valley View mall site.

“… 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. Done thoughtfully and with community engagement, a project of this scale will serve as a meaningful economic catalyst for Dallas and its residents.”

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The statement also emphasized: “We believe in Dallas, and our priority has been clear from the beginning: keeping the Dallas Mavericks in Dallas.”

But the two professional sports teams have both been embroiled in a legal dispute over proposed arena relocations.

While the Mavericks look on a surefire path to vacating the premises of the American Airlines Center, the Stars, on the other hand, are still mulling over whether to remain put, or follow suit and build their own arena in either Dallas or a surrounding suburb, with Plano being explored.

Welts, of course, also held a huge role in the Golden State Warriors‘ relocation after 50 years at Oracle Arena in Oakland to the Chase Center in San Francisco.

In fact, the Mavs CEO had retired before the franchise persuaded him to spearhead the charge on the new arena project.

AAC set to host WNBA’s Wings

But the AAC is expected to receive more basketball in the coming months as Dallas’ WNBA franchise Wings – headlined by back-to-back No. 1 overall draft picks Paige Bueckers and $500k rookie Azzi Fudd – are set to move there – albeit only temporarily – in 2027.

This news was revealed to reporters by accident by Coach Jose Fernandez back in May, although no official deal has yet been signed.

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As of now, the Wings use College Park Center on the University of Texas at Arlington campus for their practices and games, while they wait for their new practice facility to be ready to open.

However, the renovation project of Memorial Auditorium at the $3.7 billion Kay Bailey Hutchison Convention Center has been subjected to numerous delays, which is where the use of the AAC comes into play.

The Wings are expected to play three games at the 20,000-capacity AAC during the 2027 campaign, a vast increase on the 7,000 seater College Park Center they are currently playing at.

After that, though, there is a real possibility that Dallas will not have any of its four major pro sports teams playing in its main urban area during the 2030s, with the Cowboys and MLB franchise Rangers located in Arlington.

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