The Mavericks' business operation changes hands on New Year's Day. Rick Welts, the Hall of Fame executive who came out of retirement to run the franchise's business side, will step down Dec. 31, and team president Ethan Casson will take over as CEO and alternate governor on Jan. 1, 2027, the club announced Wednesday.
Staff heard the news Wednesday morning ahead of the public announcement, according to The Dallas Morning News.
A two-year commitment
Welts, 73, was hired in December 2024 to replace Cynt Marshall. He told The Dallas Morning News that when governor Patrick Dumont recruited him, his agreement came with a private condition. "At the time I said yes," Welts said, "I said yes for two years."
Casson, 52, came aboard as president in August 2025, a job the franchise created for him, and the two have split leadership of the business side ever since. Welts described the handoff to the paper as "about as well-planned and orchestrated, I think, as has ever been done by an NBA organization."
In the team's statement, Dumont credited Welts with strengthening the leadership group and said the partnership between the two executives "created a natural and seamless path forward." He added that watching them work together reinforced the club's view that Casson "is the right person to lead the Mavericks into this next chapter."
The arena comes first
The transition lands in the middle of the biggest project on the Mavericks' business agenda. The team's lease at American Airlines Center runs out in 2031, and in June the club announced option agreements on land where Valley View Mall once stood in Far North Dallas, where it plans an arena, an entertainment district, a team headquarters and a practice facility.
The Dallas Sports Journal put the optioned land at 104 acres; the Morning News described the site as 110 acres.
Casson put that project at the top of his own statement. "From developing a world-class arena and entertainment district to deepening our relationships with fans, partners, and the community, we have an opportunity to create something that truly reflects the ambition, energy, and spirit of Dallas," he said.
At an Oct. 16 preseason media event, Casson cited a jersey patch partnership with Chase and season-ticket renewals of about 90% coming off a 26-win season, the Morning News reported.
